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Amendment of section 12 of Act of 1891.
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98.—Section 12 of the Act of 1891 is hereby amended as respects instruments executed on or after the 1st day of November, 1991—
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(a) in subsection (1), by the insertion of “, or may express their opinion,” after “may be required by any person to express their opinion”,
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(b) by the insertion of the following subsection after subsection (1):
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“(1A) Where an instrument which is chargeable with stamp duty has not been delivered to the Commissioners for assessment of duty or impressing of stamps, the Commissioners shall make an assessment of such amount of stamp duty as, to the best of their knowledge, information and belief, ought to be charged, levied and paid thereon; and the accountable person shall be liable for the payment of the stamp duty so assessed unless, upon delivery of the instrument to them, the Commissioners make another assessment to be substituted for such assessment.”,
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(c) in subsection (6), by the deletion in paragraph (c) of all the words from “; and every person” to the words “stated therein”, and
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(d) by the addition of the following subsections after subsection (6):
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“(7) If at any time it appears that for any reason an assessment is incorrect the Commissioners shall make such other assessment as they consider appropriate, which assessment shall be substituted for the first-mentioned assessment.
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(8) If at any time it appears, in respect of an instrument which has been stamped in accordance with an assessment, that for any reason the assessment was an underassessment the Commissioners shall make such additional assessment as they consider appropriate.”.
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