Commencement: 20 January 1971
LAWS OF THE REPUBLIC OF VANUATU
REVISED EDITION 1988
 
CHAPTER 68
STAMP DUTIES
QR 2 of 1971 QR 4 of 1977
QR 12 of 1971 QR 10 of 1978
QR 9 of 1972 QR 4 of 1978
QR 9 of 1974 QR 2 of 1979
QR 5 of 1975 Act 34 of 1982
QR 13 of 1976 Act 22 of 1984
ARRANGEMENT OF SECTIONS
SECTION
PART I
Interpretation
1. Interpretation
PART II
Administration and General Provisions
2. Controller of Stamp Duties and other officers
3. Controller's seal and its effect
4. Instruments on which duty shall be charged, persons liable for payment of duty and recovery thereof
5. Duty and penalty duty recoverable by action
6. Documents to be lodged with Controller within 1 month after execution or receipt in Vanuatu
7. Controller to assess duty
8. Instruments to be separately charged with duty in certain cases
9. Circumstances affecting duty to be set forth in instruments
10. Controller may call for evidence
11. Penalty for not fully setting forth the facts
12. Money in foreign currency to be valued
13. Marketable securities to be valued
14. Effect of statement of value
15. Duty to be capable of assessment and paid when instrument lodged, provision for cases of dispute
16. Terms on which unstamped or insufficiently stamped instruments may be received in evidence
17. Instruments to be transmitted to Controller for stamping
18. When evidence of contents of lost unstamped documents may be given
19. Instruments not duly stamped inadmissible
20. Provisions as to instruments executed out of Vanuatu
21. Instruments may be impounded until duty paid
22. Procedure to be followed in cases of doubt or dispute
23. Deficient duty may be recovered
PART III
Special Provisions
Marketable Securities
24. Dealing in and paying interest on unstamped marketable securities
Exchange
25. Instruments of exchange to be deemed transfers on sale
Leases
26. Leases how to be charged in respect of produce, etc.
27. Duty not to be charged on penal rents
28. Leases how to be charged in respect of royalty or varying rentals
29. Duty not to be charged on improvements
Mortgages
30. Duty payable on transfers of mortgages. on appointment of trustees and in other cases
Settlements
31. Duty on settlements of security
32. One only of several instruments to be charged with ad valorem duty
33. Mortgage debt or charge to be deducted when assessing duty or value of property settled
Transfers of Shares
34. Transfers of shares not to be registered unless duly stamped
35. Exchange of shares to be dutiable as if sale of shares
36. Provisions when property becomes trust property after execution of trust instrument of unit trust scheme
37. Unit certificates to bearer under unit trust schemes to be treated as stock certificates to bearer
Securities to Bearer
38. Securities to bearer to be stamped before being issued
Transfer on Sale
39 How ad valorem duty to be calculated
40. Duty on transfer in consideration of a debt or subject to future payment
41. Duty to be charged where property is transferred by separate instruments
42. Duty to be charged where property transferred separately on distinct parts of consideration
43. Where property transferred direct to sub-purchaser or sub-purchasers
44. Duty on transfer on sale when consideration cannot be determined
45. Certain agreements chargeable as transfers on sale
PART IV
Supplementary Provisions
46. Controller may inspect books, registers, etc.
47. Wilful evasion of duty
48. Adhesive stamps not to be used
49. Rules
50. Preservation of secrecy
51. Accountant General to pay moneys due by Controller to persons under Act
SCHEDULE
------------------------------------------------
STAMP DUTIES
To provide for the imposition of stamp duties payable in respect of certain classes of instruments.
PART I
INTERPRETATION
INTERPRETATION
1. In this Act and in the Schedule thereto, unless the context otherwise requires-
"Controller" means the Controller of Stamp Duties appointed under section 2(1);
"duty" means the stamp duty for the time being chargeable by law;
"executed" means signed by any one or more of the parties thereto or, with reference to instruments under seal, means signed and sealed;
"execution" means signature by any one or more of the parties thereto or, with reference to instruments under seal, means signature and sealing;
"instrument" includes every written document;
"marketable security" means-
(a) any stock or share of any municipal or other corporation, company or society; and
(b) any debenture stock, bond, note or other security of a Government or of any municipal or other corporation, company or society, whether constituting a charge on the assets of the Government, municipal or other corporation, company or society or not; and
(c) any right or interest (whether described as a unit or sub-unit or otherwise) of a beneficiary under a unit trust scheme;
"Minister" means the Minister responsible for finance;
"person primarily liable" in respect of any instrument or matter means the person who comes within the description specified in the column of the Schedule to this Act headed "persons primarily liable" in respect of such instrument or matter;
"seal" means, for the purposes of section 3, a seal of any description which has been approved by the Minister;
"settlement" means any instrument, whether voluntary, or upon any good and valuable consideration, other than a bona fide pecuniary consideration, whereby, any property whatsoever is settled or agreed to be settled, and includes the trust instrument of a unit trust scheme;
"transfer on sale" includes every document and every decree, certificate or order of any court or of any judge whereby any property or any estate or interest in any property upon the sale thereof is transferred to or vested in a purchaser or any other person on his behalf or by his direction;
"unit trust scheme" means any, arrangements made for the purpose, or having the effect, of providing facilities for the participation by persons, as beneficiaries under a trust, in profits or income arising from the acquisition, holding, management or disposal of any property, whatsoever pursuant to that trust.
PART II
ADMINISTRATION AND GENERAL PROVISIONS
CONTROLLER OF STAMP DUTIES AND OTHER OFFICERS
2. (1) There shall be a Controller of Stamp Duties who shall be charged with the administration of this Act and the chief control of all matters relating to the duties imposed by this Act.
(2) There shall be deputy controllers, official valuers and such other officers as may be found necessary for the administration of this Act.
CONTROLLER'S SEAL AND ITS EFFECT
3. There shall be a seal called the Controller's seal which may be impressed on any instrument to denote that all duty and penalty duty to which any such instrument is liable has been paid and any instrument which is so impressed with the Controller's seal shall be deemed to have been duly stamped for all purposes whatsoever.
INSTRUMENTS ON WHICH DUTY SHALL BE CHARGED,
PERSONS LIABLE FOR PAYMENT OF DUTY AND RECOVERY THEREOF
4. (1) Subject to the exemptions contained in the Schedule, there shall be raised, levied, collected and paid to the Controller for the general revenue of the Government upon and in respect of the several instruments specified in the said Schedule, the several duties specified therein, the payment of such duties being denoted in the manner provided in section 3.
All duty and penalty duty payable under this Act shall from and after the day on which the same become due and payable be deemed to be debts due to the Government from every person liable to the payment of the same and may he recovered in any court of competent jurisdiction.
(3) Every person to whom this Act applies who with respect to any instrument of the nature mentioned in the Schedule comes within the description specified in the column thereof headed "persons primarily liable" shall be personally liable to the Government for the payment of the duty so chargeable on such instrument immediately upon the execution thereof and of any penalty duty which may become due and payable under the provisions of section 6.
(4) Where in the case of any instrument, two or more persons are liable for the payment of duty chargeable thereon, by virtue of the provisions of subsection (3), their liabilities shall be joint and several.
DUTY AND PENALTY DUTY RECOVERABLE BY ACTION
5. All duty and penalty duty payable under this Act may, from and after the day upon which it shall become due and payable, be recovered in a court of competent jurisdiction at the suit of the Controller and upon judgment in favour of the Controller for payment of any duty or penalty duty, interest at the rate of 9 per cent per annum from the date upon which the duty and penalty duty first became due and payable down to the date of judgment may be ordered together with costs.
DOCUMENTS TO BE LODGED WITH CONTROLLER WITHIN 1 MONTH AFTER EXECUTION OR RECEIPT IN VANUATU
6. (1) Every instrument which by the provisions of this Act and the Schedule thereto is chargeable with duty shall, within 1 calendar month of its being executed within Vanuatu by any party thereto or in the case of its being executed outside Vanuatu within 1 calendar month after it has been first received in Vanuatu, be lodged with the Controller for assessment of duty and stamping.
(2) Every instrument which by virtue of the provisions of sub-section (1) should have been lodged with the Controller within 1 month of its execution in Vanuatu but has not been so lodged shall be liable in addition to the duty chargeable in accordance with the Schedule to this Act to penalty duty as follows:
(a) where such document or instrument is lodged more than 1 month and not more than 3 months after execution or receipt in Vanuatu, as provided by subsection (1), as the case may be, penalty duty of 25 per cent on the amount of duty payable but in no case shall the penalty duty be less than VT1,000;
(b) where such instrument is lodged later than 3 months after execution or receipt in Vanuatu, as provided by subsection (1), as the case may be, penalty duty of 50 per cent of the amount of the duty payable but in no case shall the penalty duty be less than VT2,000; and such penalty duty shall be denoted on the instrument in the same manner as the duty payable thereon:
Provided that the Controller may on good cause shown at any time remit or reduce any penalty duty payable under this section.
(3) The penalty duty provided for by paragraph (a) of subsection (2) shall become due on the presentation of the instrument for stamping and the penalty duty provided for by paragraph (b) of subsection (2) shall, whether the instrument is presented for stamping or not, become due on the expiration of 3 months after the execution of the instrument or, in the case of an instrument first executed out of Vanuatu, on the expiration of 3 months after it has been first received in Vanuatu.
CONTROLLER TO ASSESS DUTY
7. Where an instrument is lodged with the Controller for assessment or duty, the Controller shall state whether it is liable to duty and if he is of the opinion that-
(a) it is not so liable, he shall impress thereon the Controller's seal and the particular stamp denoting that it is not so liable; or
(b) it is liable to duty or penalty duty, he shall assess the duty or penalty duty with which it is in his opinion chargeable and, on payment of the amount so assessed, shall impress thereon the Controller's seal and a particular stamp denoting the amount of duty or penalty duty so paid.
INSTRUMENTS TO BE SEPARATELY CHARGED WITH DUTY IN CERTAIN CASES
8. (1) Except where express provision is made to the contrary by any law, an instrument containing or relating to several distinct matters is to be separately and distinctly charged with duty in respect of each of such matters as if each matter were expressed in a separate instrument.
(2) An instrument made for more than one consideration is to be charged with duty in respect of each such consideration according to the rate with which each is chargeable as though each consideration were expressed in a separate instrument.
CIRCUMSTANCES AFFECTING DUTY TO BE SET FORTH IN INSTRUMENTS
9. (1) All the facts and circumstances affecting the liability of any instrument to ad valorem duty or the amount of the ad valorem duty with which it is chargeable are to be fully and truly set forth in such instrument.
(2) The provisions of subsection (1) shall not prevent the Controller exercising the powers conferred upon him by section 10 and, if the facts justify it, charging or assessing a greater amount of duty than would appear to be chargeable or assessable by reference to the language and contents of such instrument.
CONTROLLER MAY CALL FOR EVIDENCE
10. (1) The Controller may, with reference to any instrument, require to be furnished with evidence on oath or otherwise as he deems necessary in order to show to his satisfaction whether all the facts and circumstances affecting the liability of the instrument to duty or the amount of the duty chargeable thereon are fully and truly set forth therein, and may refuse to proceed with any assessment of duty until such evidence has been furnished accordingly.
(2) No oath, affidavit or statutory declaration made in pursuance of this section shall be used against any person making the same in any proceeding whatsoever except in an enquiry as to the duty with which the instrument to which it relates is chargeable and, except as provided by section 11, every person by whom any such oath, affidavit or statutory declaration is made shall, on payment of the full duty with which the instrument to which it relates is chargeable, be relieved from any fine, forfeiture or disability he may have incurred by reason of the omission to state truly in such instrument any of the facts or circumstances aforesaid.
PENALTY FOR NOT FULLY SETTING FORTH THE FACTS
11. Every person who with intent to defraud the revenue-
(a) executes any instrument in which all the said facts and circumstances are not fully and truly set forth; or
(b) being employed or concerned in or about the preparation of any instrument neglects or omits fully and truly to set forth therein all the said facts and circumstances;
shall, in addition to his liability for the amount of duty short-paid by reason of any such fraudulent act as aforesaid, commit an offence punishable upon conviction by a fine not exceeding VT30,000 or by imprisonment for a term not exceeding 6 months or by both such fine and imprisonment.
MONEY IN FOREIGN CURRENCY TO BE VALUED
12. Where an instrument is chargeable with ad valorem duty in respect of any money in any currency other than Vatu such duty shall be calculated on the value of such money in Vatu according to the Government rate of exchange on the day of the date of the instrument.
MARKETABLE SECURITIES TO BE VALUED
13. Where an instrument is chargeable with ad valorem duty, in respect of any marketable security such duty shall be calculated on the average value according to the best evidence which can be obtained of the security on the day of the date of the instrument.
EFFECT OF STATEMENT OF VALUE
14. (1) Where an instrument contains a statement of current rate of exchange or quoted price or average value and is stamped in accordance with such statement it is, so far as regards the subject matter of such statement, to be deemed duly stamped.
(2) If such statement is proved to be untrue, the deficient duty and penalty duty may be recovered.
DUTY TO BE CAPABLE OF ASSESSMENT AND PAID WHEN INSTRUMENT LODGED, PROVISION FOR CASES OF DISPUTE
15. (1) No instrument shall be deemed lodged with the Controller for assessment of duty unless the duty payable on it is capable of being at once assessed and until the amount of duty, so assessed is paid.
(2) Notwithstanding the provisions of subsection (1), in any case where the assessment of the Controller is disputed there shall be paid to him a sum on account of duty as fixed by the Controller and no penalty duty shall accrue in respect of such instrument until after such dispute has been settled in the manner provided by this Act.
TERMS ON WHICH UNSTAMPED OR INSUFFICIENTLY STAMPED INSTRUMENTS MAY BE RECEIVED IN EVIDENCE
16. On the production of an instrument chargeable with stamp duty which is unstamped or insufficiently stamped as evidence in any civil proceedings in any court, the instrument may upon payment to the court or the register thereof of the amount of the unpaid duty and the penalty duty (if any) payable by law, be received in evidence saving all just exceptions on other grounds.
INSTRUMENT TO BE TRANSMITTED TO CONTROLLER FOR STAMPING
17. Upon payment of any duty or penalty duty under the provisions of section 16, the court or the registrar shall detain and immediately transmit to the Controller the instrument together with the duty and penalty duty so paid thereon and the payment thereof shall be denoted on such instrument accordingly.
WHEN EVIDENCE OF CONTENTS OF LOST UNSTAMPED DOCUMENTS MAY BE GIVEN
18. (1) If any instrument chargeable with duty and which may legally be stamped after execution is lost before the same is stamped, secondary evidence may be given of such instrument and of the contents thereof in any court, but the person adducing such evidence shall first pay to the court or the registrar thereof such unpaid duty and penalty duty as the judge or magistrate shall assess to be the duty and penalty duty which would be payable on such instrument were the instrument itself tendered in evidence.
(2) If such duty and penalty duty are not paid on assessment being made as aforesaid the evidence shall be rejected.
INSTRUMENTS NOT DULY STAMPED INADMISSIBLE
19. Except as aforesaid, no instrument executed in Vanuatu or, wherever executed, relation to any property situate or to any matter or thing done or to be done in any part of Vanuatu shall in any civil proceedings be pleaded or given in evidence or admitted to be good, useful or available in law or equity unless it is duly stamped in accordance with the law in force at the time when it was first executed.
PROVISIONS AS TO INSTRUMENTS EXECUTED OUT OF VANUATU
20. (1) No instrument executed out of Vanuatu and which by the law of the country in which it was executed is inadmissible in evidence in such country by reason of not having been stamped shall be for such reason inadmissible in evidence in Vanuatu unless it is proved that such instrument is by the statute law of such country expressly made void if made or executed without being stamped.
(2) Nothing herein shall be deemed to render valid in Vanuatu any instrument executed out of Vanuatu which is void by the law of the place where the same was executed for any other reason than that the same was not duly stamped.
INSTRUMENTS MAY BE IMPOUNDED UNTIL DUTY PAID
21. Any instrument lodged with the Controller for assessment of duty or otherwise may be impounded and detained until the duty or penalty duty or both have been paid in respect thereof.
PROCEDURE TO BE FOLLOWED IN CASES OF DOUBT OR DISPUTE
22. (1) If the Controller is in any doubt as to the liability of any instrument to duty or the amount to be assessed thereon, or if the person lodging the instrument shall give notice in writing to the Controller within 1 month of being informed of the duty assessed that he objects to the assessment and giving shortly the grounds of his objection, the question shall, upon payment of the duty so assessed, be summarily referred to the Supreme Court and that court may for the purpose require the Controller to state and sign a case setting forth the question or questions upon which the opinion of the court is required and the assessment made by him:
Provided that the Controller may in his discretion extend the time for giving notice of objection to an assessment.
(2) The Controller shall thereupon state and sign a case accordingly and deliver the same to the appellant by whom it is required and on application such case may be set down for hearing in the Supreme Court, whose decision thereon shall, except upon questions of law or questions of mixed fact and law, be final.
(3) Upon the hearing of such case, due notice of which is to be given to the Controller, the court shall determine the question or questions submitted and if the instrument in question is in the opinion of the court-
(a) chargeable with any duty the court shall state the duty with which it is chargeable and shall order the payment thereof and may order the payment of interest thereon and costs if it shall think fit; or
(b) not chargeable with any duty or chargeable with less duty than the duty assessed by the Controller, the court shall state the duty, if any, payable and shall order the refund of the duty wrongly paid together with interest thereon and may if it shall think fit order the payment of costs by the Controller.
(4) Notwithstanding the provisions of subsection (1) the Controller may in his discretion waive payment of duty assessed in whole or in part pending the determination by the court of the question in doubt or dispute.
(5) In the hearing of appeals against assessments of duty, by the Controller, the onus of proving that the assessment is excessive shall lie upon the person objecting to the assessment.
(6) The Judicial Committee may make rules governing the procedure to be followed on the making of objections and the hearing of appeals against assessments generally.
DEFICIENT DUTY MAY BE RECOVERED
23. (1) If it appears to the Controller that an instrument has been erroneously assessed with an insufficient amount of duty or penalty duty he may at any time within 12 months after the payment of duty call upon the person who lodged the same to pay the remaining part of the amount with which in his opinion such document or instrument was properly chargeable at the time it was lodged and assessed for duty.
(2) Subject to subsection (3), the amount of duty required to be paid by the Controller under the provisions of subsection (1) shall be a debt due to the Government and shall be recoverable from such person and in such manner as provided by section 4 and section 5 respectively.
(3) Every person who is dissatisfied with a supplementary assessment of duty by the Controller as' provided by subsection (1) may object to the same and the provisions of section 22 and of any rules made thereunder shall apply, mutatis mutandis.
(4) Any instrument so alleged by the Controller to be insufficiently charged with duty shall, pending payment of the supplementary duty or the determination of an objection to the assessment, be as good and available for all purposes as though full duty and penalty duty had been paid thereon.
PART III
SPECIAL PROVISIONS
Marketable Securities
DEALING IN AND PAYING INTEREST ON UNSTAMPED MARKETABLE SECURITIES
24. Every person who knowingly and wilfully delivers, assigns, transfers or negotiates in Vanuatu any marketable security chargeable with duty or pays any principal money, interest or dividend accrued due in respect of any such security before the same is duly stamped shall commit an offence punishable upon conviction by a fine not exceeding VT60,000 or by imprisonment for a term not exceeding 12 months or by both such fine and imprisonment.
Exchange
INSTRUMENTS OF EXCHANGE TO BE DEEMED TRANSFERS ON SALE
25. (1) Any instrument by which any property is legally or equitably transferred to or vested in any other person by way of exchange shall be deemed to be a transfer on sale of that property and stamp duty shall be assessed and paid thereon accordingly.
(2) In all the provisions of this Act relating to transfer on sale every reference to sale or purchase shall be construed as extending to exchanges accordingly.
(3) Whenever land or any interest in land constitutes the consideration or part of the consideration for a transfer on sale, the value of that land or interest shall be deemed and taken to be the capital value thereof or any other value which may be stated as the value thereof in the transfer or in any agreement or other instrument executed by any party to the transfer as preliminary thereto or otherwise in relation thereto, whichever value is the greatest.
(4) If the value so stated in any such transfer, agreement or instrument includes without apportionment the value of any property other than the said land or interest therein, the Controller shall apportion the said value in such manner as he shall think fit between such land or interest and such other property, and stamp duty shall be assessed and payable accordingly.
(5) The Controller may require any party to any such transfer on sale to produce to him any such agreement or instrument as is referred to in subsection (3) or to make a statutory declaration disclosing the existence and contents of any such agreement or instrument, and until such requirement is complied with to the satisfaction of the Controller he may impound the transfer on sale.
(6) Whenever any land or interest in land constituting the consideration or part of the consideration for a transfer on sale is not separately valued, the Controller may cause a valuation of that land or interest to be made for the purposes of this section and stamp duty shall be assessed and payable by reference to the valuation so made.
Leases
LEASES HOW TO BE CHARGED IN RESPECT OF PRODUCE, ETC.
26. Where the consideration or any part of the consideration for which any lease is granted or agreed to be granted does not consist of money but of any produce or other goods, the duty is to be calculated on the value of such produce or goods at the average market price thereof on the day of the date of the instrument.
DUTY NOT TO BE CHARGED ON PENAL RENTS
27. A lease is not to be charged with duty in respect of any penal rent or increased rent in the nature of a penal rent thereby reserved or by reason of being made in consideration of the surrender or abandonment of any existing lease of or relating to the same subject matter.
LEASES HOW TO BE CHARGED IN RESPECT OF ROYALTY OR VARYING RENTALS
28. (1) Where the consideration for a lease is wholly or partly a royalty payable either in money. produce or goods or any other consideration whatsoever other than a fixed sum of money, then, if it is stipulated that the amount of such money or the value of such produce or goods is to amount at least to or not to exceed a given sum or where the lessee is specially charged with or has the option of paying after any permanent rate of conversion, the yearly amount of such money and value of such produce or goods is to be estimated at such given sum or according to such given rate.
(2) In the case of a lease at a specified rental for a specified period or series of periods with provision for the rent subsequent to the last such period being fixed by valuation or otherwise, the duty shall be assessed on the highest fixed rental specified in such lease, and, if the new rental when fixed by valuation or otherwise as aforesaid exceeds the rental upon which the duty was originally assessed, duty on the excess shall then be payable and the instrument of lease shall then be presented for assessment accordingly in like manner and subject to the like provisions as to fine and otherwise as in the case of the original assessment.
(3) Where there is no possible means of discovering what is the maximum value of the consideration dealt with under a lease then, subject to the provisions of subsection (2), the duty payable in respect of such lease shall be a fixed sum of VT10,000.
DUTY NOT TO BE CHARGED ON IMPROVEMENTS
29. No lease made for any consideration in respect whereof it is chargeable with ad valorem duty and in further consideration either of an agreement by the lessee to make or of his having previously made any substantial improvement of or any addition to the property leased to him or of any covenant relating to the matter of the lease is to be charged with any duty in respect of such further consideration.
Mortgages
DUTY PAYABLE ON TRANSFERS OF MORTGAGES, ON APPOINTMENT OF TRUSTEES AND IN OTHER CASES
30. (1) The following provisions shall apply in assessing the amount of stamp duty payable in respect of the transfer of mortgages in the cases hereinafter mentioned-
(a) where any transfer of a mortgage or of mortgages is made pursuant to the appointment of a trustee or of trustees under any will, settlement or other instrument or by order of the court or a judge thereof, the duty on such transfer shall be VT500 unless the substantive duty on such transfer would be less than VT500 in which case the substantive duty only shall be payable;
(b) where any transfer of a mortgage or of mortgages discloses that such transfer is made or executed only by way of completion or confirmation of title and for no other reason or where such transfer discloses that no benefit accrues to the person in whose favour such transfer is made or executed or that no greater benefit accrues than such person had or was entitled to have by law or by virtue of some other instrument, the duty on such transfer shall be VT500 unless the substantive duty on such transfer would be less than VT500 in which case the substantive duty only shall be payable.
(2) Nothing in this section shall be deemed to exempt any transfer of a mortgage from liability to any other duty to which it is or may be liable under this Act or any other law relating to stamp duties.
Settlements
DUTY ON SETTLEMENTS OF SECURITY
31. (1) Where any money which may become due or payable on any security not being a marketable security is or agreed to be settled, the instrument whereby such settlement is made or agreed to be made shall be charged with ad valorem duty in respect of such money.
(2) Where any money which may become due or payable on any security being a marketable security is settled or agreed to be settled, the instrument whereby such settlement is made or agreed to be made shall be charged with ad valorem duty on the value of such security.
ONE ONLY OF SEVERAL INSTRUMENTS TO BE CHARGED WITH AD VALOREM DUTY
32. (1) Where several instruments are executed for effecting the settlement of the same property 1 only of such instruments is to be charged with ad valorem duty and the remaining instrument or instruments may be impressed with the Controller's seal to denote that it is or they are not liable to duty.
(2) A settlement made in pursuance of any previous agreement or instrument upon which any ad valorem duty has been paid in respect of the same property shall not be charged with any ad valorem duty but may be impressed with the Controller's seal denoting that the instrument of settlement is not liable to duty.
MORTGAGE DEBT OR CHARGE TO BE DEDUCTED WHEN ASSESSING DUTY OR VALUE OF PROPERTY SETTLED
33. (1) Where the property comprised in any deed of settlement is subject to any mortgage debt or certain charge annual or otherwise created prior to the execution of the deed of settlement such deed shall be liable to the duty payable on the amount or value of such property after a deduction has been made of the amount of such mortgage debt or charge.
(2) No such deduction shall be made unless the deed of settlement is expressly made subject to such mortgage debt or charge and the amount or nature thereof is stated in such deed of settlement or in a schedule thereto.
(3) Where such charge consists of money payable periodically for a definite period or periodically in perpetuity or for an indefinite period or periodically during any life or lives, the amount of such charge in respect of which such deduction shall be made shall be calculated in the same manner as provided by section 39 in the case of the consideration on conveyances on sale payable periodically.
Transfers of Shares
TRANSFERS OF SHARES NOT TO BE REGISTERED UNLESS DULY STAMPED
34. (1) No transfer of any share or shares of or in the stock or funds or debentures of any corporation, company or society whatsoever shall be registered, recorded or entered in the books of such corporation, company or society in Vanuatu unless such transfer is duly stamped.
(2) No such transfer shall be valid unless and until it is duly stamped.
(3) Every person who registers or causes to be registered any such transfer contrary to this section shall commit an offence punishable upon conviction by a fine not exceeding VT300,000 or by imprisonment for a term not exceeding 2 years or by both such fine and imprisonment.
EXCHANGE OF SHARES TO BE DUTIABLE AS IF SALE OF SHARES
35. A transfer of shares by way of exchange for shares or for any other property shall be chargeable with the same ad valorem duty in respect of the consideration for the transfer as if the transfer were by way of sale.
Unit Trust Schemes
PROVISIONS WHEN PROPERTY BECOMES TRUST PROPERTY AFTER EXECUTION OF TRUST INSTRUMENT OF UNIT TRUST SCHEME
36. Upon every occasion after the execution of the trust instrument of a trust scheme on which any property becomes trust property represented by units under the scheme the trustee shall, not later than 1 month after the property so becomes trust property, furnish to the Controller a statement of the property and lodge with the Controller therewith the trust instrument to be duly stamped with ad valorem duty or additional ad valorem duty as if it were a new and separate instrument whereby that property was made trust property bearing date on the day on which the property was made trust property:
Provided that this section shall not apply where the property is or results from the investment of, proceeds of the sale, exchange or redemption of, or is bonus capital distributed in respect of, other trust property represented by units under the scheme.
UNIT CERTIFICATES TO BEARER UNDER UNIT TRUST SCHEMES TO BE TREATED AS STOCK CERTIFICATES TO BEARER
37. (1) Any reference in this Act or the Schedule to a stock certificate to bearer shall be deemed to include a reference to a certificate to bearer in relation to a unit under a unit trust scheme.
(2) Any reference in this Act or the Schedule to the then value of stock shall, in relation to units under a unit trust scheme, be construed as a reference to the value of the units in question computed as if each unit were worth, and worth only, the price at which similar units are first or were first obtainable under the scheme from the trustee or manager thereof.
(3) Nothing in this Act shall render any duty payable in respect of an instrument of transfer whereby the manager transfers any unit under a unit trust scheme if his power to transfer the unit arises from the transfer to him of that or some other unit within the immediately preceding 2 months.
(4) Where a unit under a unit trust scheme is transferred to the manager by an instrument of transfer duly stamped and, before the expiration of 2 months from the date of the transfer the manager and trustee jointly certify-
(a) that the certificate, if any, in respect of the unit has been cancelled; and
(b) that, as a consequence of the transfer, a proportionate part of the trust property has been realised, and the trust property diminished accordingly; and
(c) that the unit has been extinguished and that the manager has no power to transfer any other unit in lieu thereof;
the Controller shall, on the application of the person by or on behalf of whom the duty was paid and on production to him of the instrument of transfer, and of the joint certificate of the manager and trustee, refund the duty.
Securities to Bearer
SECURITIES TO BEARER TO BE STAMPED BEFORE BEING ISSUED
38. (1) Every share warrant, stock certificate, debenture or other security whatever issued to bearer shall be duly stamped in accordance with the provisions of the Schedule before being issued.
(2) If any share warrant, stock certificate, debenture or other security to bearer shall be issued without having been duly stamped, the company, corporation or society issuing the same, and also every person who, at the time when it is issued, is the managing director or secretary, or other principal officer of the company, corporation or society shall commit an offence punishable upon conviction by a fine not exceeding VT60,000 or, in the case of a person, by imprisonment for a term not exceeding 12 months or by both such fine and imprisonment.
Transfer on Sale
HOW AD VALOREM DUTY TO BE CALCULATED
39. (1) Where the consideration or any part of the consideration for a transfer on sale consists of-
(a) any marketable security, such conveyance is to be charged with ad valorem duty in respect of the value of such security;
(b) any security not being a marketable security, such transfer is to be charged with ad valorem duty in respect of the amount due on the day of the date thereof for principal and interest;
(c) money payable periodically for a definite period so that the total amount to be paid can be previously ascertained, such transfer is to be charged in respect of such condition with ad valorem duty on such total amount;
(d) money payable periodically in perpetuity or for any indefinite period not terminable with life, such transfer is to be charged in respect of such consideration with ad valorem duty on the total amount which will or may according to the terms of sale be payable during the period of 15 years next after the day of the date of such instrument;
(e) money payable periodically during any life or lives, such transfer is to be charged in respect of such consideration with ad valorem duty on the amount which will or may according to the terms of sale be payable during the period of 9 years next after the day of the date of such document or instrument.
(2) No transfer on sale chargeable with ad valorem duty in respect of periodical payments and containing also provision for securing such periodical payments is to be charged with any duty whatsoever in respect of such provision and no separate document or instrument made in any such case for securing such periodical payments is to be charged with any higher duty than VT500.
DUTY ON TRANSFER IN CONSIDERATION OF A DEBT OR SUBJECT TO FUTURE PAYMENT
40. (1) Where property is conveyed to any person in consideration wholly or in part of any debt due to him or subject either certainly or contingently to the payment or transfer of any money or marketable security, whether being or constituting a charge or encumbrance upon the property or not, such debt, money or marketable security is to be deemed the whole or part, as the case may be, of the consideration in respect whereof the conveyance is chargeable with ad valorem duty.
(2) Where there is more than one owner of property and one of such owners sells his share or interest therein in consideration of any such debt or subject as mentioned in subsection (1), then the duty shall be assessed and paid on or in respect of the share or interest of the vendor in such debt, money or marketable security as aforesaid and any further or other consideration, if any, and not on the full amount or value of such debt, money or marketable security, as the case may be.
DUTY TO BE CHARGED WHERE PROPERTY IS TRANSFERRED BY SEPARATE INSTRUMENTS
41. Where any property has been contracted to be sold for one consideration for the whole and is conveyed to the purchaser in separate parts or parcels by different instruments or transfers, the consideration is to be apportioned in such manner as the parties think fit so that a distinct consideration for each separate part or parcel is set forth in the transfer relating thereto and such transfer is to be charged with ad valorem duty in respect of such distinct consideration.
DUTY TO BE CHARGED WHERE PROPERTY TRANSFERRED SEPARATELY ON DISTINCT PARTS OF CONSIDERATION
42. Where property contracted to be purchased for one consideration for the whole by two or more persons jointly or by any person for himself and others or wholly for others is conveyed in parts or parcels by separate instruments or transfers to the persons by or for whom the same was purchased for distinct parts of the consideration, the transfer of each separate part or parcel is to be charged with ad valorem duty in respect of the distinct part of the consideration therein specified.
WHERE PROPERTY TRANSFERRED DIRECT TO SUB-PURCHASER OR SUB-PURCHASERS
43. Where a person has for the purchase of any property, but not having obtained a transfer thereof, contracts to sell the same or any part or parts thereof is or are in consequence transferred directly from the first vendor of the property to a sub-purchaser or sub-purchasers, the transfer or transfers shall, for the purposes of this Act, be deemed to be a transfer or transfers on sale of the estate or interest in the property of each purchaser and sub-purchaser of the property, and shall be chargeable ad valorem duty in respect of the consideration moving from the purchaser and each sub-purchaser respectively. In any such case the original purchaser and the sub-purchaser shall respectively be liable to pay the ad valorem duty payable in respect of the consideration moving from him, and such duty may be recovered from him by the Controller or the last sub-purchaser who pays the same.
DUTY ON TRANSFER ON SALE WHEN CONSIDERATION CANNOT BE DETERMINED
44. When the value of the consideration or any part of the consideration for a transfer on sale of any property is in the opinion of the Controller incapable of estimation and there is no express provision in this Act applicable to the case, the Controller may assess the value of such consideration or such part thereof at such sum as he thinks fit but so that the duty or additional duty payable in respect of such valuation shall in no case exceed VT3,000 and, notwithstanding the provisions of section 22, the assessment so made by the Controller shall be final and conclusive and shall not be questioned in any proceedings whatsoever.
CERTAIN AGREEMENTS CHARGEABLE AS TRANSFERS ON SALE
45. (1) Any contract or agreement-
(a) for the sale of any equitable estate or interest in any property whatsoever; or
(b) for the sale of any estate or interest in any property except-
(i) property situated out of Vanuatu;
(ii) goods, livestock, wares or merchandise;
(iii) shares, stock or marketable securities;
(iv) any ship or vessel or any part, interest, share, or property, of or in any ship or vessel;
shall be charged with the same ad valorem duty to be paid by the purchaser as if it were an actual transfer on sale of the estate, interest or property contracted or agreed to be sold.
(2) Where duty has been paid in conformity with the provisions of subsection (1), the transfer made to the purchaser or sub-purchaser or any other person on his behalf or by his direction shall not be chargeable with any duty and the Controller shall upon application denote upon the transfer the payment of ad valorem duty on the contract or agreement upon production thereof and that the transfer is accordingly not liable to duty.
PART IV
SUPPLEMENTARY PROVISIONS
CONTROLLER MAY INSPECT BOOKS, REGISTERS. ETC.
46.(1) Any person having in his custody or possession any books, records, registers, papers or other documents the inspection whereof may, in the opinion of the Controller, tend to secure the payment of any duty under this Act or to the proof or discovery of any fraud or omission in relation to any duty, shall at all reasonable times, notwithstanding anything to the contrary in any other Act or in any law or rule of law, permit any person thereunto authorised by the Controller to inspect all such documents and to take such notes, copies or extracts thereof or therefrom as he may deem necessary, without fee or reward.
(2) Any person who refuses to permit or obstructs such inspection or taking of notes, copies or extracts shall commit an offence punishable upon conviction by a fine not exceeding VT60,000 or by imprisonment for a term not exceeding 12 months or by both such fine and imprisonment.
(3) Where any instrument which ought to be but is not stamped or is insufficiently stamped is produced for inspection under this section, it may be impounded and delivered to the Controller, who may retain the instrument until the duty or penalty duty or both have been paid.
(4) The Controller may impound any instrument which ought to be but is not stamped or which is insufficiently stamped and retain the same until the duty or penalty duty or both have been paid.
WILFUL EVASION OF DUTY
47. Every person who wilfully and fraudulently evades or conspires to evade, or assists another person to evade, payment of duty to which any instrument is liable under this Act shall commit an offence punishable upon conviction by a fine not exceeding VT300,000 or imprisonment for a term not exceeding 2 years or by both such fine and imprisonment.
ADHESIVE STAMPS NOT TO BE USED
48. For the avoidance of doubt, it is hereby declared that duty chargeable under this Act shall not be payable by the use of adhesive stamps.
RULES
49. The Minister may from time to time make rules for the due administration of this Act and for the conduct of all persons concerned in such administration and generally for carrying this Act into effect.
PRESERVATION OF SECRECY
50. (1) Except for the purpose of the performance of his duties or the exercise of his functions under this Act or when lawfully required to do so by any court of competent jurisdiction within Vanuatu or for the purposes of the audit of government accounts, no person shall disclose any information acquired by him respecting the affairs of any other person under the provisions of this Act, whether while employed in any official capacity or after he has ceased to be so employed.
(2) Every person who shall contravene the provisions of subsection (1) shall commit an offence punishable upon conviction by a fine not exceeding VT150,000 or by a term of imprisonment not exceeding 1 year or by both such fine and imprisonment.
ACCOUNTANT GENERAL TO PAY MONEYS DUE BY CONTROLLER TO PERSONS UNDER ACT
51. The Accountant General may without further appropriation issue and pay out any money's payable by the Controller to any person under the provisions of this Act.
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SCHEDULE
(section 4(1))
Nature of instrument	Amount of duty	Persons primarily liable	
BEARER SECURITIES			
(to be stamped before issue) Share warrants, stock certificates, debentures or other securities of a company, corporation or society issued to bearer.	Duty of an amount equal to 3 times the amount of the ad valorem duty which would be chargeable on a deed or other document transferring the share or shares, stock, debenture or other security if the consideration for the transfer were the then value of such share or shares, stock, debenture or other security.	The company, corporation or society issuing the share warrant, stock certificate, debenture, or other securities to bearer, and the managing director, secretary and other principal officers of the company, corporation or society at the time of issue.	
			
BILLS OF SALE	The like duty as in the case of a mortgage.	The grantor.	
			
DECLARATION OF TRUST			
(1) Any instrument declaring that a person in whom property is vested as the apparent purchaser thereof is held by him in trust for the person or persons who have actually paid the purchase money therefor.	VT2,000	The person declaring the trust.	
			
(2) Any instrument declaring that the property vested in the person executing the same is or shall be held in trust for the person or persons mentioned therein-
Upon the amount or value of such property-		The person declaring the trust.	
(a) where the property is marketable securities, for every VT10,000 and every part of VT10,000	VT25		
(b) where the property is other than marketable securities, for every VT10,000 and every part of VT10,000	VT50		
			
LEASES			
Lease or agreement for a lease or any written document for the tenancy or occupancy of any lands-		The lessee or tenant.	
(1) Without any consideration by of a premium-			
(a) where the term does not exceed 10 years, for every VT1,000 or part of VT1,000 of the yearly rental	VT10		
(b) where the term exceeds 10 years but does not exceed 21 years, for every VT1,000 or part of VT1,000 of the yearly rental.	VT30		
(c) where the term exceeds 2l years, for every VT1,000 or part of VT1,000 of the yearly rental.	VT50		
(2) In consideration of a sum of money by way of premium without rent.	The like duty as on a transfer on sale.		
(3) In consideration of a sum of money by way of premium and also of a yearly rent-			
(a) on the amount of the premium.	The like duty as on a transfer on sale.		
(b) on the yearly rent.	The like duty as on a lease.		
			
Surrender of lease-			
(1) Without any consideration.	VT1,000	The lessee.	
			
(2) In consideration of a sum of money.	The like duty as on a transfer on sale.		
			
Exception: Any lease granted to a lessee in respect of any land of which the lessee was the registered owner on the 29th day of July, 1980 in the Register of Land Titles established by Joint Regulation No. 3 of 1930.	VT2,500		
MORTGAGE			
(1) Being the only or primary or principal security for the payment or repayment of money-			
(a) for every VT10,000 or part of VT10,000 principal moneys	VT60	The mortgagor.	
or			
(b) where such a mortgage secures further advances or moneys due on account current-			
for every, VT10,000 or part of VT10,000 of the principal indebtedness at any time owing.	VT60	The mortgagor.	
			
Where the principal indebtedness under such a mortgage at any time exceeds the amount covered by ad valorem duty already paid, the mortgage shall be liable to further duty as if it were a new instrument in respect of the amount of such excess.		The mortgagor.	
			
Where the mortgagee or the mortgagor is an exempted bank or financial institution to which section 19(1) of the Banking Act, Cap. 63 applies, then stamp duty shall be charged upon the instrument at the rate of VT5,000 in place of any ad valorem or other duty which would otherwise be chargeable.		The mortgagor	
			
(2) Being a collateral, auxilliary, or additional or substituted security or by way of further assurance where the principal or primary security is duly stamped.	VT1,000	The mortgagor.	
			
(3) Transfer or assignment- 
for every VT10,000 or part of VT10,000 principal moneys owing.	VT10	The transferee.	
			
(4) Reconveyance, release, or discharge of any such security as aforesaid, or of the benefit thereof, or of the money thereby secured.	VT1,000	The mortgagor.	
			
Exemption: The transfer of a mortgage or mortgages to or in trust for any corporation or body of persons associated sole for charitable purposes.			
			
POWERS OF ATTORNEY			
Upon every power or letter of attorney whether executed in or out of Vanuatu.	VT1,500	The person executing.	
			
TRANSFER OF PROPERTY			
(other than any transfer otherwise specifically charged)			
(1) Transfer of moveable property-			
(a) upon sale, for every VT10,000 or part of VT10,000 of the purchase or consideration money	VT60	The transferee.	
(b) otherwise than upon sale, for every VT10,000 or part of VT10,000 of the market value	VT60	The transferee.	
			
(2) Transfer of immoveable property-			
(a) upon sale otherwise than for a nominal consideration for every VT10,000 or part of VT10,000 of the purchase or consideration money	VT500	The transferee.	
(b) upon sale for a nominal consideration or upon transfer otherwise than by sale, for every VT10,000 or part of VT10,000 of the amount or value of the property transferred (as at the date of the execution of the instrument)	VT500	The transferee	
For the purpose of this paragraph "transfer of immoveable property" includes the transfer upon sale or otherwise by any person of the rights vested in him in the capacity of alienator within the meaning of the Land Reform Act, Cap. 123 or a person substituted therefor.			
			
(3) Transfer of property by which no change of the beneficial ownership thereof is effected-	VT3,000	The transferee.	
Provided that-			
(i) no instrument appointing any new trustee under any will, settlement or other instrument or any transfer to any devisee or any appointment under a deed or will not for valuable consideration or to any next-of-kin by any executor administrator or trustee shall be liable to the duty hereby imposed for a transfer;			
(ii) nothing herein shall be deemed to exempt any instrument from liability to any other duty, to which it is or may be liable under this Act or any other law relating to stamp duties.			
Exemption:
(a) Any instrument dedicating a road, street or free and perpetual right-of-way to the use of the public or dedicating or transferring to any municipality or other public authority land reserved as open space in a subdivision, and not containing any provision by which such instrument could otherwise become liable to duty.
(b) Any transfer of property to or in trust for any corporation or body of persons associated solely for charitable purposes; and any instrument for declaring or defining the trust or for appointing new trustees in respect of such property.
(c) Any instrument transferring the property of a company formed or registered under French law as applicable to Vanuatu, to a company formed or registered under the Companies Act, Cap. 191 and where at the date of transfer the shareholders of both companies are identical.			
			
SETTLEMENTS			
Any instrument, whether voluntary or upon good or valuable consideration, other than a bona fide pecuniary consideration whereby any property whatsoever is settled or agreed to be settled in any manner whatsoever-			
for every VT10,000 or part of VT10,000 of the amount or value of the property, settled or agreed to be settled	VT50 with a minimum payment of VT7,500	The person making the settlement.	
Exemption. Every instrument of appointment relating to any property in favour of persons special named or described as property of a power of appointment, where duty has been paid in respect of the same property upon the settlement creating the power or the grant of representation of any will or testamentary instrument creating the power.			
GENERAL EXEMPTIONS FROM STAMP DUTY
1. The following instruments are exempted from payment of stamp duty-
Any instrument relating to a sale, conveyance, hypothecation, charge, mortgage, assignment or discharge of mortgage or Bill of Sale, of a vessel documented under the Maritime Act, Cap. 131
2. The following persons are exempted from payment of stamp duty-
(a) the government of Vanuatu;
(b) any person executing or acting as a part to any instrument on behalf of the government of Vanuatu;
(c) any corporation established or body of persons associated solely for charitable purposes;
(d) any person exempted by virtue of any other Act or regulation.
Minimum payment
3. Unless otherwise specified in the Schedule there shall be a minimum amount of VT2,500 payable in respect of instruments chargeable with stamp duty.
Maximum payment in respect of certain instruments
4. Notwithstanding the provisions of the Schedule no instrument executed in Vanuatu relating to any property situate or to any matter or thing done or to be done outside Vanuatu shall be charged with duty in an amount exceeding VT10,000.
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SUBSIDIARY LEGISLATION
STAMP DUTIES (APPEALS TO SUPREME COURT) RULES
Rule 3 of 1973
ARRANGEMENT OF RULES
RULE
1. Procedure
2. Notice of objection
3. Reference to Registrar
4. Controller to state a case
5. Notice of hearing
6. Service of notice
7. Amending notice of objection
8. Subpoena
9. Hearing of appeal
10. Fees
11. Costs of appeal
SCHEDULE: Fees
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STAMP DUTIES (APPEALS TO SUPREME COURT) RULES
PROCEDURE
1. The procedure to be followed on the making of objections to assessments by the Controller and the hearing of appeals against such assessments shall be governed by the following provisions of these Rules.
NOTICE OF OBJECTION
2. (1) Every objection to an assessment by the Controller shall be made by submitting 3 copies of a notice of objection to the Controller within 1 month of the notification of the assessment in question or within such further period as the Controller may allow, and shall set out clearly and concisely the grounds upon which the objection is made.
(2) The notice of objection shall be signed by the person objecting or his advocate and shall state therein an address for service in Vanuatu to or at which notices, process and other documents and written communications relating to the objection may be sent by registered post or left for the appellant. Service by post or delivered as aforesaid shall be good service on the appellant.
REFERENCE TO REGISTRAR
3. The Controller on receipt of the notice of objections shall refer 2 copies to the Registrar who shall cause the objection to be filed in the registry of the Court.
CONTROLLER TO STATE A CASE
4. (1) The Registrar may on receipt of the notice of objection require the Controller within 42 days to state and sign a case setting forth the ground upon which the assessment referred to in the notice of objection has been made by him.
(2) The Controller shall as soon as practicable deliver to the appellant the case stated signed by him, together with 1 copy thereof, and the appellant may file the case in the registry of the Court. If the case stated has not been agreed by the appellant in draft prior to the Controller signing it, there shall be included in the case as statement of any questions of fact disputed by the appellant.
NOTICE OF HEARING
5. The Registrar shall give not less than 15 days' notice in writing to the appellant and to the Controller setting out the day, time and place appointed for the hearing of the appeal.
SERVICE OF NOTICE
6. Service of the notice of hearing on the Controller may be effected by sending or leaving a copy of the notice at his office. Service on the appellant may be effected in accordance with Rule 3(2).
AMENDING NOTICE OF OBJECTION
7. A notice of objection may be amended at any time by or with the leave of the Court on such terms and conditions as the Court may think just.
SUBPOENA
8. At the request of the appellant or the Controller or by the direction of the Court itself, a subpoena ad testificandum or duces tecum may be issued requiring any person to attend to give evidence or to produce documents in connection with the objection.
HEARING OF APPEAL
9. (1) On the day fixed for the hearing of the appeal or any other day to which the hearing may be adjourned, the appellant, or his advocate, shall be heard in support of the appeal.
(2) The appellant shall not rely upon any ground not set out in the notice of objection.
(3) The Court shall then, if it does not dismiss the appeal at once, hear the Controller or his advocate and in such case the appellant shall have the right of reply.
(4) Subject to the provisions of the Act and these Rules, the Rules of Court and the ordinary practice and procedure of the Court shall apply, with any necessary modifications, in relation to an appeal under these Rules.
(5) The Court may allow the appellant and the Controller to adduce evidence in support of his case.
FEES
10. (1) The fees set out in the Schedule to these rules shall be charged and paid in respect of the matters therein specified.
(2) The fees to be charged and paid in respect of matters not specified in the Schedule shall be the fees payable in respect of similar matters in civil proceedings in the Court:
Provided that no fees shall be charged or be payable by the Controller n relation to act, application or proceeding by him in relation to an appeal.
COSTS OF APPEAL
11. (1) Subject to the provisions of section 22(3) of the Act the costs of and incidental to an appeal shall be in the discretion of the Court.
(2) When the Court directs that the costs, or any part of the costs, of an appeal be paid by the appellant or by the Controller, the Court may specify the amount of such costs to be paid or may direct that the costs be taxed.
(3) The Court may allow as costs of an appeal the allowances and expenses of witnesses attending the hearing of the appeal in accordance with the rules for the time being in force in the Court in relation to allowances and expenses of witnesses attending at trials before the Court.
(4) The Court may allow such other necessary costs or allowances as may seem to the Court to be fair and reasonable.
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SCHEDULE
(rule 10)
FEES
Filing case stated VT1,000
Hearing fee VT500 per half day
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