Issue of Bank Cheques without Stamp - Penalty.

10. Every bank which issues, pays, presents for acceptance or payment or accepts payment of a cheque or other bill of exchange or promissory note upon which a stamp of the requisite value according to the requirements of this section has not been affixed or impressed shall be liable to a penalty of one hundred dollars.

Penalty for Failure of Bank to Prepare Statement.

(a) Every bank which omits or neglects to prepare a statement as and within the time called for by the provisions of this section, and to affix thereto a stamp or stamps of the requisite value according to the requirements of this section, shall be liable to a penalty equal to the amount of the stamps required to be affixed and a further penalty of five hundred dollars.

Penalty for Omission of Bank to Cancel Stamps on Cheques, etc.

11. Every bank which omits or neglects to cancel, in accordance with the requirements of this section, the adhesive stamp or stamps affixed to (a) a cheque,

(b) a bill of exchange or promissory note,

(c) a receipt for money,

(d) a statement, shall be liable to a penalty equal to the amount of the uncancelled stamps and a further penalty of one hundred dollars.

Bank Taking Receipt Without Stamp - Penalty.

12. Every bank which takes or accepts a receipt for money paid by the bank chargeable against a deposit of money at the credit of the person signing the receipt on which a stamp of the value required by this section has not been affixed or impressed shall be liable to a penalty of one hundred dollars.

Stamp Tax on Sale or Transfer of Stock - Penalty for Violation.

13. No person shall sell or transfer the stock or shares of any association, company or corporation, by agreement for sale, entry on the books of the association, company or corporation, by delivery of share certificates or share warrants endorsed in blank, or in any other manner whatsoever, or accept the transfer or delivery of any stock or share unless in respect of such sale or transfer there is affixed to or impressed upon the document evidencing the ownership of such stock or shares, or a document showing the transfer or agreement to transfer thereof, an adhesive stamp, or a stamp impressed thereon by means of a die of the value of two cents for every one hundred dollars or fraction thereof of the par value of the stock or shares sold or transferred. Provided that in case of sale where the evidence of transfer is shown only by the books of the company the stamp shall be placed or impressed upon such books; and where the change of ownership is by transfer of the certificate the stamp shall be placed or impressed upon the certificate; and in case of an agreement to sell or where the transfer is by delivery of the certificate assigned in blank there shall be made and delivered by the seller to the buyer a bill or memorandum of such sale, to which the stamp shall be affixed or impressed; and every bill or memorandum of sale or agreement to sell before mentioned shall show the date thereof, the name of the seller, the amount of the sale, and the matter or thing to which it refers. Pro-vided that the first delivery by a corporation or company of such shares, or debenture stock, in order to effect an issue, shall not be subject to the tax imposed by this subsection.

Any person who violates any of the provisions of this sub-section shall be liable to a penalty not exceeding five hundred dollars. 5 Geo. V. c. 8; 10-11 Geo. V. c. 71. Am.

Stamps to be Used and Methods of Cancellation.

19. The Minister, except as herein otherwise provided, may direct stamps to be prepared for the purposes of this Part of such kinds and bearing respectively such devices as he thinks proper, and all sums received for stamps and paper stamped by means of a die under this Part shall form part of the Consolidated Revenue Fund.

(2) The device on each stamp shall express the value thereof, that is to say the sum at which it shall be reckoned in discharge of the obligation to affix or impress stamps under this Part.

(3) Postage stamps of the requisite value may, in lieu of stamps prepared under subsection 1 of this section, be used In fulfilment and discharge of any requirement under this Part that adhesive stamps be affixed.

(4) In any case in which an adhesive stamp is required to be cancelled, and it is not otherwise specifically provided, such stamp shall be deemed to be cancelled if lines or marks are drawn across or impressed thereon so as to effectually render the stamp Incapable of being used for any other Instrument.

The Bankruptcy Act. Sections from 9-10 Geo. V. c. 36, as amended.

Acts of Bankruptcy.

3. A debtor commits an act of bankruptcy in each of the following cases:Fraudulent Conveyance.

(b) If in Canada or elsewhere he makes a fraudulent conveyance, gift, delivery, or transfer of his property, or of any part thereof;

Fraudulent Preference.

(c) If in Canada or elsewhere he makes any conveyance or transfer of his property or any part thereof, or creates any charge thereon, which would under this Act be void as a fraudulent preference if he were adjudged bankrupt;

Property not to be removed from Province.

26. (1) No property of an estate of a bankrupt or of an authorized assignor shall be removed out of the province where such property was at the date when any receiving order or authorized assignment was made, without the consent in writing of the inspectors or the order of the court in which proceedings under this Act are being carried on or within the jurisdiction of which such property is situate.

Moneys to be deposited in Bank.

(2) The trustee shall deposit in a chartered bank the proceeds of the sale of any property of the estate of the bankrupt or the authorized assignor and all other moneys realized on account of any trust estate which he is administering under this Act and he shall not withdraw or remove therefrom, without the consent in writing of the inspectors or the order of the court, any such moneys, except for payment of dividends and other charges incidental to the administration of the estate.

Not into Private account of Trustee.

(3) No trustee in a bankruptcy or under any authorized assignment or composition or scheme of arrangement shall pay any sums received by him as trustee into his private banking account.