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ACT IV OF 1996 BALOCHISTAN FINANCE ACT, 1996 ACT IV OF 1996 An Act to levy certain taxes in the Province of Balochistan [Gazette of Balochistan, Extraordinary, 7th July, 1996] No. PAB/LEGIS. V.(28)/96 dated 7-7-1996.--The Balochistan Finance Bill, 1996 having been passed by the Provincial Assembly on 26th June, 1996 and assented to by the Governor of Balochistan, is hereby published as an Act of Provincial Assembly. 14. Amendment of Schedule I of Act II of 1899.--In Schedule I of Stamp Act, 1899 (II of 1899), the following amendments shall be made, namely:-- (1) For Article 5, the following shall be substituted, namely:-- "5 AGREEMENT OR MEMORANDUM OF AN AGREEMENT (a) If relating to the sale of a bill of exchange Ten rupees. (b) If relating to the sale of Government security. Rupee one for every rupees ten thousand or part thereof of value of the security, subject to the maximum of two hundred rupees. (c) If relating to sale of share in an incorporate or other body corporate. Two rupees for every rupees five thousand or part thereof of the value of share. (d) If not otherwise provided. One hundred rupees". (2) For Article 10, the following shall be substituted, namely:-- "10. ARTICLES OF ASSOCIATION OF A COMPANY (a) Where the Company has no share capital or nominal share capital does not exceed Rs.2,500. One thousand Five hundred rupees. (b) Where the nominal share capital exceeds Rs.2,500 but does not exceed Rs. 1,00,000. One thousand rupees. (c) Where the nominal share capital exceeds Rs.1,00,000 but does not exceed Rs.10,00,000. Two thousand rupees. (d) Where the nominal share capital exceeds Rs.10,00,000. Five thousand rupees." (3) For Article 27, the following shall be substituted, namely:-- "27. DEBENTURE, PARTICIPATION TERM CERTIFICATE (Whether a mortgage or not) being marketable security transferable-- (a) by endorsement of separate instrument of transfer. The same duty as is leviable Bond (No. 15). (b) by delivery. For every rupees five hundred part thereof of the face value of the debenture rupees eighteen." (4) For Article 39, the following shall be substituted, namely:-- "39. MEMORANDUM OF ASSOCIATION OF A COMPANY (a) If accompanied by articles of association under sec tion 35 of the Companies Ordinance, 1984. One thousand rupees. (b) If not accompanied. Two thousand rupees." (5) For Article 43, following shall be substituted: namely:-- "43. NOTE OR MEMORANDUM sent by broker to his principal intimating the purchase or sale of account of such principal-- (a) of any goods exceeding in value twenty rupees. Four rupees (b) of any stock or marketable security exceeding in value twenty rupees, but not being a Government Security. Fifty paisa for every Rs.5,000 or part thereof of the value of the stock or security. (c) of a Government security. One rupee for every Rs.10,000 or part thereof of the security subject to a maximum of two hundred rupees." (6) For Article 46, the following shall be substituted, namely:-- "46. A PARTNERSHIP OF (a) Where the capital of the partnership does not exceed rupees five hundred One hundred rupees (b) In any other case. One thousand rupees. (c) DISSOLUTION. Five hundred rupees". (7) For Article 48, the following shall be substituted, namely:- "48. POWER OF ATTORNEY as defined by section 2(21) not being a proxy Article 52. (a) When executed for the sole purpose of procuring the registration of one or more documents in relation to single transaction or for admitting execution of one or more such documents. Thirty rupees. (b) When authorizing one person or more to act in a single transaction other than the case mentioned in clause (a). One hundred rupees. (c)When authorizing not more than five persons to act jointly and severally in more than one transaction or generally. Three hundred rupees. (d) When authorized more than five but not more than ten persons to act jointly and severally in more than one transaction or generally. One thousand rupees. (e) When give for consideration and authorized attorney sell any immovable property. The same duty as is leviable on a Conveyance (No.23) for the amount of consideration. (f) In any other case. Forty rupees for each person authorized." (8) For Article 54, the following shall be substituted, namely:--- "54. RECONVEYANCE OR MORTGAGE PROPERTY (a) If the consideration for which the property was mortgaged does not exceed rupees 1,000 The same duty as is leviable on a Bond (No.15) for the amount of such consideration set fourth in re-conveyance deed. (b) In any other case. Five hundred rupees." (9) For Article 57, the following shall be substituted; namely:-- "57. SECURITY BOND OR MORTGAGE DEED Exceed by way of security for due execution of an officer, or to account for money or other property received by virtue thereof or executed in favour of a Court for due discharge of a contingent liability or executed by a surety to secure the performance of it contract: (a) When the amount secured does not exceed Rs.100 The same duty as on a Bond (No. 15) for the amount secured. (b) In any other case Rs.100 (c) Guarantee/Security Bond to be given to the Banks/Financial Institutions. Two hundred rupees."