Finance Act, 1973
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Exemption for certain companies. |
73.—Stamp duty shall not be charged in the case of a transaction that is effected by— | |
(a) a capital company which is formed for the purpose of and carries on exclusively the business of supplying a public service such as public transport or port facilities, or supplying water, gas or electricity, and not less than fifty per cent. of the issued capital of which is owned by the State or a local authority, or | ||
(b) a capital company whose objects are exclusively cultural, charitable or educational: | ||
Provided that the statement which is required to be delivered in pursuance of section 69 (1) of this Act in relation to such transaction shall not be deemed to be duly stamped unless it has, in accordance with the provisions of section 12 of the Stamp Act, 1891, been stamped with a particular stamp denoting that it is not chargeable with stamp duty. |