Stamp Duty Ordinance


Published: 2014-04-10

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Cap 117 - Stamp Duty Ordinance 1

Chapter: 117 Stamp Duty Ordinance Gazette Number Version Date

Long title E.R. 2 of 2014 10/04/2014


To consolidate and amend the law relating to stamp duty.


[1 July 1981] L.N. 173 of 1981

(Originally 31 of 1981)

(*Format changes—E.R. 2 of 2014)
________________________________________________________________________
Note:
* The title of the Ordinance has been updated to the current legislative styles.

Part: I Preliminary E.R. 2 of 2014 10/04/2014


(*Format changes—E.R. 2 of 2014)
________________________________________________________________________
Note:
* The format of Part I has been updated to the current legislative styles.

Section: 1 Short title E.R. 2 of 2014 10/04/2014


This Ordinance may be cited as the Stamp Duty Ordinance.

Section: 2 Interpretation E.R. 2 of 2014 10/04/2014


(1) In this Ordinance, unless the context otherwise requires-
adhesive stamp (黏貼印花) has the meaning assigned to it by section 5(3);
adjudication fee (裁定費) means the adjudication fee prescribed in the Fifth Schedule; (Added 5 of 2000 s. 2)
assessment (評稅) means an assessment made by the Collector under section 13 or 47L as to the amount of stamp

duty chargeable on an instrument, and assessed (評定) has the corresponding meaning; (Amended 10 of 2013 s.
24)

authorized ATS provider (認可自動化交易服務提供者) means a person authorized under Part III of the Securities
and Futures Ordinance (Cap 571) to provide automated trading services within the meaning of Part 2 of
Schedule 5 to that Ordinance; (Added 5 of 2002 s. 407)

bearer instrument (不記名文書) means any instrument to bearer by delivery of which any stock can be transferred,
but does not include an instrument relating to stock which consists of a loan expressed in terms other than in the
currency of Hong Kong except to the extent that the loan is repayable, or may at the option of any person be
repaid, in the currency of Hong Kong; (Amended 77 of 1981 s. 2)

bond (債券) is to be construed having regard to section 47E(b); (Added 10 of 2013 s. 24)
buyer’s stamp duty (買家印花稅) means buyer’s stamp duty chargeable under head 1(1AAB) or (1C) in the First

Schedule; (Added 2 of 2014 s. 3)
chargeable (可予徵收、徵收) means chargeable under this Ordinance;
Collector (署長) means the Collector of Stamp Revenue appointed under section 3;
contract note (成交單據) means a contract note required to be made and executed under section 19(1);
conveyance (轉易契) means every instrument (including a surrender) and every decree or order of any court whereby

any immovable property is transferred to or vested in any person;
conveyance on sale (售賣轉易契) means every conveyance whereby any immovable property, upon the sale thereof,

is transferred to or vested in a purchaser or any other person on his behalf or by his direction, and includes a
foreclosure order;



Cap 117 - Stamp Duty Ordinance 2

duly stamped (加蓋適當印花), in relation to an instrument, means duly stamped under this Ordinance in respect of
the stamp duty chargeable on such instrument;

exchange participant (交易所參與者) means an exchange participant within the meaning of section 1 of Part 1 of
Schedule 1 to the Securities and Futures Ordinance (Cap 571); (Added 12 of 2000 s. 23. Amended 5 of 2002 s.
407)

executed and execution (簽立), in relation to an instrument not under seal, mean signed and signature respectively;
foreclosure order (止贖令) means every order or decree for, or having the effect of an order for, foreclosure;
Hong Kong bearer instrument (香港不記名文書) means a bearer instrument issued-

(a) in Hong Kong; or
(b) elsewhere by or on behalf of a body corporate formed, or an unincorporated body of persons established, in

Hong Kong;
Hong Kong stock (香港證券) means stock the transfer of which is required to be registered in Hong Kong;
instrument (文書) includes every written document;
instrument of transfer (轉讓文書) means an instrument by means of which any Hong Kong stock is transferred, and

includes a letter of renunciation;
Japanese House Registration Office (日本房屋登錄所) means the office in which during the Japanese occupation

of Hong Kong were kept the registers or records of houses and buildings and documents relating thereto;
jobbing business (證券經銷業務) means any business carried on by an exchange participant which is specified as

jobbing business by regulations made under section 63; (Amended 12 of 2000 s. 23)
lease (租約) does not include mortgage by demise;
loan capital (借貸資本) means any debenture, debenture stock, corporation stock or funded debt (by whatever name

known) issued by any body, whether corporate or unincorporate, or any capital raised by any such body, being
capital which is borrowed or has the character of borrowed money, but does not include any such investment
which-
(a) carries a right of conversion into stock or to the acquisition of any stock; or
(b) carries or has carried a right to interest the amount of which-

(i) exceeds a reasonable commercial return on the nominal amount of the capital; or
(ii) falls or has fallen to be determined to any extent by reference to the results of, or of any part of, a

business or to the value of any property; or
(c) carries a right on repayment to an amount which exceeds the nominal amount of the capital and is not

reasonably comparable with what is generally repayable in respect of a similar nominal amount of capital
under the terms of issue of loan capital listed on a recognized stock market; (Amended 77 of 1981 s. 2; 67
of 1989 s. 2; 5 of 2002 s. 407)

recognized exchange company (認可交易所) means a company recognized under section 19(2) of the Securities and
Futures Ordinance (Cap 571) as an exchange company for operating a stock market; (Added 5 of 2002 s. 407)

recognized stock market (認可證券市場) has the same meaning as in section 1 of Part 1 of Schedule 1 to the
Securities and Futures Ordinance (Cap 571); (Added 5 of 2002 s. 407)

relevant Ordinance (《有關條例》) means the Companies Ordinance (Cap 32) as in force from time to time before
the commencement date* of section 2 of Schedule 9 to the Companies Ordinance (Cap 622); (Added 28 of 2012
ss. 912 & 920)

special stamp duty (額外印花稅) means special stamp duty chargeable under head 1(1AA) or (1B) in the First
Schedule; (Added 14 of 2011 s. 3)

stamp (印花) means any of the following-
(a) an adhesive stamp;
(b) a stamp (other than an adhesive stamp) used or intended for use for denoting the payment or remission of

stamp duty, or the payment or remission of any penalty, or the payment of an adjudication fee, payable
under this Ordinance or the fact that any instrument has been presented for adjudication or that it is not
chargeable with stamp duty or is duly stamped; (Amended 5 of 2000 s. 2)

(c) any mark made or indication given by a stamp referred to in paragraph (b);
(d) an imprint on a contract note to which an agreement under section 5A relates of the amount of the stamp

duty chargeable thereon together with an imprint made under section 5(2A)(b) on such note; (Added 85 of



Cap 117 - Stamp Duty Ordinance 3

1991 s. 2. Amended L.N. 90 of 1999 and 44 of 1999 s. 13)
stamp certificate (印花證明書) means a certificate issued by the Collector under Part IIA; (Added 21 of 2003 s. 2)
stamp duty (印花稅 ) means stamp duty chargeable under this Ordinance and includes additional stamp duty

chargeable under section 13(10) or 47L(7), buyer’s stamp duty and special stamp duty; (Amended 14 of 2011
s. 3; 10 of 2013 s. 24; 2 of 2014 s. 3)

stamped (加蓋印花、加蓋), in relation to an instrument, means-
(a) the instrument has been stamped by means of a stamp under this Ordinance; or
(b) a stamp certificate has been issued in respect of the instrument by the Collector under Part IIA, in so far as

the stamp certificate has not been cancelled under that Part; (Replaced 21 of 2003 s. 2)
stock (證券) means any of the following investments-

(a) any shares, stocks, debentures, loan stocks, funds, bonds or notes of or issued by any body, whether
corporate or unincorporate, or any government or local government authority, or any other similar
investment of any description;

(b) any units under a unit trust scheme;
(c) any right, option or interest in or in respect of any stock referred to in paragraph (a) or (b), other than any

such right, option or interest under an employees' share purchase or share option scheme, (Replaced 36 of
1992 s. 2)

but, except for the purposes of section 22, does not include any loan capital, or any bill of exchange or
promissory note, or any certificate of deposit within the meaning of section 2 of the Inland Revenue Ordinance
(Cap 112) or any Exchange Fund debt instrument or Hong Kong dollar denominated multilateral agency debt
instrument within the meaning of that Ordinance, or any bond issued under the Loans Ordinance (Cap 61), or
any debentures, loan stocks, funds, bonds or notes denominated otherwise than in the currency of Hong Kong
except to the extent that the same shall be redeemable, or may at the option of any person be redeemed, in the
currency of Hong Kong; (Amended 77 of 1981 s. 2; 29 of 1984 s. 2; 10 of 1990 s. 2; 43 of 1991 s. 2; 49 of 1991
s. 2; 18 of 1992 s. 2)

time for stamping(加蓋印花期限), in relation to an instrument, has the meaning assigned to it by section 4(2);
unit (單位) and unit trust scheme (單位信託計劃) have the meanings assigned thereto respectively by section 30.

(Amended 67 of 1989 s. 2; 12 of 2000 s. 23; 5 of 2002 s. 407)
(2) Where it is provided in any other Ordinance that stamp duty shall not be payable in respect of any instrument,

such instrument shall not be chargeable with stamp duty under this Ordinance.
(3) Where it is provided in this Ordinance that an instrument shall not be duly stamped unless any condition

specified in that provision is fulfilled, the fulfilment of that condition shall not affect the application to that
instrument of any other such provision of this Ordinance whereby any other condition is required to be fulfilled
in respect of that instrument.

(4) Until Part IV comes into operation, the definition of stock (證券) in subsection (1) shall be construed as if
paragraph (b) and references thereto in that definition were omitted.

(5) If this Ordinance provides for a penalty for a contravention of this Ordinance or an act by reference to a level,
the penalty applicable for the contravention or the act is the amount equal to the amount of fine shown for that
level in Schedule 8 to the Criminal Procedure Ordinance (Cap 221). (Added 10 of 2013 s. 24)

_________________________________________________________________________________
Note:
* Commencement date : 3 March 2014.

Section: 2A Instruments affected by Land Titles Ordinance


Remarks:
This section has not yet come into operation. To see the contents, please refer to 26 of 2004 in the Government of the
Hong Kong SAR Gazette.

Section: 3 Collector of Stamp Revenue and assistant collectors E.R. 2 of 2014 10/04/2014


(1) There shall be a Collector of Stamp Revenue who shall be appointed by the Chief Executive, and such number
of assistant collectors as the Chief Executive may appoint for the purposes of this Ordinance. (Amended 12 of



Cap 117 - Stamp Duty Ordinance 4

1999 s. 3)
(2) The office of the Collector shall be at such place as the Collector may determine.
(3) A reference in any provision in this Ordinance to the Collector shall, in relation to the exercise of any function

conferred by that provision on the Collector, include a reference to any assistant collector who is for the time
being authorized in writing by the Collector to exercise such function.

(4) Any person appointed under section 2 of the Stamp Ordinance (Cap 117 1978 Ed.) as Collector of Stamp
Revenue or assistant collector and holding such office immediately before the commencement of this Ordinance
shall be deemed to be appointed under this section as Collector of Stamp Revenue or assistant collector, as the
case may be.


Part: II Charging and Stamping of Instruments E.R. 2 of 2014 10/04/2014


(*Format changes—E.R. 2 of 2014)
________________________________________________________________________
Note:
* The format of Part II has been updated to the current legislative styles.

Section: 4 Charging of, liability for, and recovery of stamp duty E.R. 2 of 2014 10/04/2014


(1) Subject to this Ordinance, every instrument, wherever executed, specified in the First Schedule shall be
chargeable with the stamp duty specified in respect thereof in that Schedule, and the headings, notes and
explanations in that Schedule shall have effect accordingly.

(2) Subject to this Ordinance, the time for stamping any instrument shall be the point of time or, as the case may be,
the period of time specified in respect thereof in the First Schedule; and where it is provided in that Schedule
that the point of time for stamping any instrument is to be before execution, such provision shall not be
construed as prohibiting the stamping of such instrument after execution.

(3) If any instrument chargeable with any stamp duty (other than buyer’s stamp duty) is not duly stamped in
respect of that duty, the person or persons respectively specified in section 13(10), 19 or 20 or the First Schedule
as being liable for stamping such instrument with that duty, and any person who uses such instrument, shall be
liable, or jointly and severally liable, as the case may be, civilly to the Collector for the payment of the stamp
duty and any penalty payable under section 9, 45(5A)(d) or 47H(3), and may be proceeded against without
reference to any civil liability of such person inter se for the payment thereof. (Amended 10 of 2013 s. 25; 2 of
2014 s. 4)

(3AA)If any instrument chargeable with buyer’s stamp duty is not duly stamped in respect of that duty, the person or
persons respectively specified in section 13(10) or the First Schedule as being liable for stamping the instrument
with that duty—
(a) is liable, or are jointly and severally liable, civilly to the Collector for the payment of that duty and any

penalty payable under section 9; and
(b) (where there is more than one person) may be proceeded against without reference to any civil liability of

those persons inter se for the payment of that duty and penalty. (Added 2 of 2014 s. 4)
(3A) A contract note which is stamped in accordance with section 5(2A) shall, if the amount of the stamp duty

imprinted on the note has not been paid to the Collector in the manner provided by an agreement entered into
under section 5A, be deemed for the purposes of subsection (3) to be an instrument chargeable with stamp duty
which is not duly stamped. (Added 85 of 1991 s. 3)

(4) If a contract note is not made and executed as required by section 19(1), the person specified in the First
Schedule as being liable for stamping such note shall be liable civilly to the Collector for the payment of the
stamp duty chargeable thereon and any penalty payable under section 9.

(5) No action shall be brought by virtue of subsection (3), (3AA) or (4) or section 45(5A)(c) for the recovery of any
stamp duty with respect to any instrument more than 6 years from the expiration of the time for stamping such
instrument. (Amended 43 of 1991 s. 3; 2 of 2014 s. 4)

(5A) No action may be brought because of section 47H(2)(b) for the recovery of any stamp duty with respect to an
instrument more than 6 years after the later of the following—
(a) the expiry of the time for stamping the instrument;
(b) an IA disqualifying event as defined by section 47D(4), or the earliest IA disqualifying event (as the case



Cap 117 - Stamp Duty Ordinance 5

requires), occurs in relation to the material arrangement. (Added 10 of 2013 s. 25)
(5B) For the purposes of subsection (5A), an arrangement is the material arrangement in relation to an instrument if

relief has been granted under section 47F or 47G for the instrument on the basis that the arrangement is a
qualified investment arrangement in a specified alternative bond scheme. (Added 10 of 2013 s. 25)

(6) Notwithstanding anything in this section, the Collector may agree to accept payment of any stamp duty or
penalty by instalments.

(7) The return required by section 45(2) of the relevant Ordinance, or by section 142(1) of the Companies Ordinance
(Cap 622), to be delivered to the Registrar of Companies for registration in respect of any contract referred to in
section 4(7A)(a) or (b), as the case may be, which is not reduced to writing shall be chargeable with the same
stamp duty as would have been payable if the contract had been reduced to writing, and subsections (2), (3), (5)
and (6) of this section shall apply to the return as they apply to any such contract in writing. (Amended 28 of
2003 s. 128; 28 of 2012 ss. 912 & 920)

(7A) The contract referred to in subsection (7) is—
(a) a contract mentioned in section 45(1)(b) of the relevant Ordinance; or
(b) a contract mentioned in section 142(2)(d)(iii) of the Companies Ordinance (Cap 622). (Added 28 of 2012

ss. 912 & 920)
(8) Where, after the commencement of this Ordinance, any immovable property or Hong Kong stock is transferred

to or vested in any person by virtue of any Ordinance, whether commencing before or after this Ordinance, such
person shall within 30 days after the commencement of the Ordinance or the date of vesting, whichever is the
later, cause an authentic copy of the Ordinance (including any subsidiary legislation giving effect to the vesting)
to be stamped with the stamp duty chargeable on a conveyance or transfer of immovable property or Hong
Kong stock as the case may be; and such person shall, for the purposes of subsection (3), be the person liable for
stamping with respect to such copy.


Section: 5 Methods of stamping and denoting E.R. 2 of 2014 10/04/2014


(1) Subject to this section and section 9, where an instrument chargeable with stamp duty is presented to the
Collector for stamping, the Collector may, upon payment of the stamp duty-
(a) stamp such instrument or cause it to be stamped-

(i) by means of a franking machine with the amount of stamp duty paid and the date of stamping; or
(ii) by means of a stamp approved by the Collector with the words "Stamp Office Hong Kong" or "香港
印花稅署" and the date of stamping, and shall at the same time record on the instrument, as close as
possible to the date so stamped, the amount of stamp duty paid together with his signature; or

(b) where the instrument is an instrument to which Part IIA applies, instead of stamping it in the manner as
provided in paragraph (a), issue a stamp certificate in respect of the instrument. (Replaced 21 of 2003 s. 3)

(1A) A stamp certificate shall not be issued under subsection (1)(b) in respect of the instrument notwithstanding that it
is an instrument to which Part IIA applies if, at the time when the instrument is presented to the Collector, it is
accompanied by a written request to the Collector for stamping it in the manner as provided in subsection (1)(a).
(Added 21 of 2003 s. 3)

(2) Any instrument chargeable with stamp duty under head 2(1) in the First Schedule may be stamped by means of
an adhesive stamp by any person authorized in that behalf by the Collector who purchases such stamp at the
office of the Collector.

(2A) Notwithstanding subsection (2), a contract note to which an agreement under section 5A relates may be stamped
by any person authorized in that behalf by the Collector by imprinting in such manner as the Collector may think
fit on the contract note-
(a) the amount of the stamp duty chargeable thereon; and
(b) a note to the effect that the amount of the stamp duty referred to in paragraph (a) has been or will be paid

through a recognized exchange company or an authorized ATS provider under the agreement. (Replaced
L.N. 90 of 1999 and 44 of 1999 s. 14. Amended 5 of 2002 s. 407)

(2B) Subject to section 4(3A), a contract note stamped in accordance with subsection (2A) shall be treated as duly
stamped with the amount of the stamp duty imprinted thereon, and within the time for stamping such note.
(Added 85 of 1991 s. 4)

(2C) Any person who with intent to defraud the Government-
(a) imprints on a contract note the matters described in subsection (2A)(a) and (b) without authorization from



Cap 117 - Stamp Duty Ordinance 6

the Collector for the purposes of subsection (2A); or
(b) imprints on a contract note any matter, as a matter described in subsection (2A)(a) or (b), which is false in a

material particular,
commits an offence. (Replaced L.N. 90 of 1999 and 44 of 1999 s. 14)

(3) Adhesive stamps used for the purposes of subsection (2) shall be of such kinds and in such denominations as the
Collector may determine.

(4) Subject to section 7, any instrument chargeable with stamp duty under head 2(4) in the First Schedule may be
stamped by means of a franking machine by any person to whom a licence in respect of such machine is issued
under that section.

(5) In respect of any Hong Kong bearer instrument, the following shall apply-
(a) such instrument shall, before being issued, be produced to the Collector together with such particulars in

writing in respect of the instrument as the Collector may require, and such instrument shall be duly stamped
if it is stamped with a particular stamp approved by the Collector denoting that it has been so produced; and

(b) within 2 months of the date on which such instrument is issued, or such longer time as the Collector may
allow, a statement in writing containing the date of issue and such further particulars as the Collector may
require in respect of such instrument shall be delivered to the Collector, and the stamp duty chargeable on
such instrument shall be paid to the Collector on delivery of that statement or within such longer time as the
Collector may allow,

and if default is made in complying with paragraph (a) or (b) in respect of such instrument, or if any particulars
so produced or delivered in respect of such instrument are false in any material respect, the person or persons
respectively specified in head 3 in the First Schedule as being liable for stamping such instrument shall incur a
penalty of 10 times the amount of the stamp duty chargeable on such instrument which shall be recoverable by
the Collector as a civil debt due to the Government. (Amended 12 of 1999 s. 3)

(6) Where the stamp duty chargeable on an instrument depends in any manner upon the stamp duty paid in respect
of another instrument, the payment of the last-mentioned stamp duty shall, upon application to the Collector and
production of evidence to his satisfaction that such duty has been paid, be denoted upon the first-mentioned
instrument or the stamp certificate issued in respect of the first-mentioned instrument in such manner as the
Collector thinks fit. (Amended 21 of 2003 s. 3)

(7) If an instrument is presented to the Collector for stamping and the Collector, acting under section 12, requires to
be furnished with an abstract of the instrument or with some evidence, then unless such an abstract or that
evidence is furnished as required the Collector-
(a) may refuse to stamp the instrument; or
(b) may stamp the instrument subject to such conditions as he sees fit. (Added 8 of 1992 s. 2)


Section: 5A Collection agreement with recognized exchange company

or authorized ATS provider
E.R. 2 of 2014 10/04/2014



(1) The Collector may enter into an agreement with a recognized exchange company or an authorized ATS provider
for the collection, in accordance with the provisions of this Ordinance and such agreement, of the stamp duty
chargeable under head 2(1) in the First Schedule on such contract notes as may be specified in the agreement.

(2) An agreement under this section shall provide-
(a) for every contract note to which the agreement relates to bear on its face an imprint of the amount of the

stamp duty chargeable on such note;
(b) for the delivery to the Collector, by the recognized exchange company or authorized ATS provider, of

periodical accounts in respect of contract notes to which the agreement relates, giving such particulars with
respect thereto as may be specified in the agreement; and

(c) for the payment to the Collector, by the recognized exchange company or authorized ATS provider and on
the delivery of any such account, of the aggregate amount of the stamp duty chargeable as mentioned in
subsection (1) on contract notes to which the agreement relates during the period to which the account
relates,

and any such agreement may contain such other terms and conditions as the Collector thinks fit.
(3) If default is made in delivering any account required by an agreement under this section, or in paying any

amount in accordance with such an agreement, the recognized exchange company or authorized ATS provider
shall be liable to penalty of $5000 for each day during which the default continues, and, in addition, every
amount payable under such an agreement shall bear interest at the rate of 3 cents per $100 or part thereof per



Cap 117 - Stamp Duty Ordinance 7

day, from the due date for delivery of the account by reference to which it is payable until the actual date of
payment. (Amended 70 of 1994 s. 2)

(4) The penalty and interest under subsection (3) shall be recoverable as a civil debt due to the Government.
(Amended 12 of 1999 s. 3)

(Added 85 of 1991 s. 5. Amended 5 of 2002 s. 407)

Section: 6 Cancellation of adhesive stamps E.R. 2 of 2014 10/04/2014


(1) Every adhesive stamp used to denote the payment of stamp duty under section 5(2) shall be cancelled forthwith
by the person affixing it in such manner as to render it incapable of being used again for any revenue purpose.

(2) An instrument stamped by means of an adhesive stamp shall not be duly stamped unless the adhesive stamp is
cancelled as required by subsection (1).


Section: 7 Licensing and use of franking machines E.R. 2 of 2014 10/04/2014


(1) The Collector may issue a licence to any person in the form in Part 1 of the Second Schedule authorizing such
person to use a franking machine for the purpose of stamping any instrument under section 5(4).

(2) No person shall use a franking machine for the purpose of stamping any instrument under section 5(4)-
(a) without a licence; or
(b) otherwise than in accordance with the conditions set out in Part 1 of the Second Schedule or such additional

or other conditions as the Collector may impose in respect of such licence; or
(c) unless at the time it stamps such instrument the machine stamps the date of stamping thereon.

(3) The general provisions in Part 2 of the Second Schedule shall have effect in relation to every licence and
licensed franking machine.

(4) No person other than the Collector or an authorized officer shall break or in any way interfere with any seal
affixed to a licensed franking machine for the purposes of this section by the Collector or an authorized officer.

(5) The Collector may cancel a licence at any time if there are reasonable grounds for believing that-
(a) any person has used the licensed franking machine in contravention of subsection (2)(b) or (c) or has broken

or interfered with any seal affixed thereto in contravention of subsection (4); or
(b) the licensed franking machine is capable of making an imperfect stamp; or
(c) the licensed franking machine has not been used for a period of not less than 6 months.

(6) Any person who contravenes subsection (2) or (4) commits an offence.
(7) Whenever in any prosecution for an offence against subsection (2) it is proved that the accused had in his

possession a franking machine, it shall be presumed unless the contrary is proved that such machine was used
for the purpose of stamping an instrument under section 5(4).

(8) Any franking machine in respect of which an offence is committed against subsection (2) shall, upon application
by the Collector to a magistrate, be forfeited whether or not any person is convicted in respect of such offence.

(9) In this section-
authorized officer (獲授權人員) means a public officer authorized in writing by the Collector for the purposes of

this section;
licence (牌照) means a licence issued by the Collector under subsection (1), and licensed (已有牌照) shall be

construed accordingly.

Section: 8 Duplicates and counterparts E.R. 2 of 2014 10/04/2014


The duplicate or counterpart of an instrument chargeable with stamp duty shall not be duly stamped unless-
(Amended 21 of 2003 s. 4)

(a) it is stamped as an original instrument;
(b) there is denoted on it payment of the stamp duty paid in respect of the original instrument of which it is the

duplicate or counterpart; or
(c) there is denoted on a stamp certificate issued for the duplicate or counterpart payment of the stamp duty

paid in respect of the original instrument of which it is the duplicate or counterpart.
(Amended 21 of 2003 s. 4)





Cap 117 - Stamp Duty Ordinance 8

Section: 9 Late stamping E.R. 2 of 2014 10/04/2014


(1) Except in the case of an instrument to which section 5(5) or 13(7)(a) applies, any instrument chargeable with
stamp duty which is not stamped before or within the time for stamping such instrument shall not be stamped
except by the Collector upon payment of the stamp duty and a penalty of whichever of the following amounts
applies- (Amended 77 of 1981 s. 4)
(a) if the instrument is so stamped not later than 1 month after the time for stamping, the penalty shall be

double the amount of the stamp duty;
(b) if the instrument is so stamped later than 1 month but not later than 2 months after the time for stamping,

the penalty shall be 4 times the amount of the stamp duty;
(c) in any other case, the penalty shall be 10 times the amount of the stamp duty.

(2) The Collector may remit the whole or any part of any penalty payable under subsection (1).
(3) The payment or remission of a penalty payable under this section in respect of any instrument may be denoted

thereon by the Collector in such manner as he thinks fit.

Section: 10 How instruments to be written, charged and stamped E.R. 2 of 2014 10/04/2014


(1) Every instrument chargeable with stamp duty shall be so written that the stamp may appear on the face of the
instrument and cannot be used for or applied to any other instrument.

(2) Every instrument chargeable with stamp duty containing or relating to several distinct matters shall be separately
and distinctly charged, as if it were a separate instrument, with stamp duty in respect of each of the matters.

(3) Every instrument chargeable with stamp duty shall be separately and distinctly stamped with the stamp duty
chargeable thereon.

(4) Subject to section 16(1), an instrument made for any consideration by reference to which it is chargeable with
stamp duty, and also for any further or other valuable consideration or considerations, shall be separately and
distinctly charged, as if it were a separate instrument, with stamp duty in respect of each of the considerations.


Section: 11 Facts and circumstances affecting stamp duty to be set

forth
E.R. 2 of 2014 10/04/2014



(1) All the facts and circumstances affecting the liability of any instrument to stamp duty, or the amount of the
stamp duty chargeable on an instrument, are to be fully and truly set forth in the instrument.

(2) Any person who with intent to defraud the Government-
(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,
commits an offence.

(3) The Collector may, before the commencement of criminal proceedings, compound any offence against
subsection (2).

(4) Where any of the facts and circumstances affecting the liability of any instrument to stamp duty, or the amount
of the stamp duty chargeable on an instrument, are not fully and truly set forth in the instrument in accordance
with subsection (1), the Collector may-
(a) refuse to stamp the instrument; or
(b) stamp the instrument subject to such conditions as he may think fit. (Added 33 of 1998 s. 2)


Section: 12 Power to call for abstract and evidence E.R. 2 of 2014 10/04/2014


Whenever any instrument is presented to the Collector for stamping, the Collector may require to be furnished with an
abstract of the instrument and also with such evidence as he may deem necessary in order to show to his satisfaction
whether all the facts and circumstances affecting the liability of the instrument to stamp duty, or the amount of the
stamp duty chargeable thereon, are fully and truly set forth therein.




Cap 117 - Stamp Duty Ordinance 9

Section: 13 Adjudication of stamp duty by Collector E.R. 2 of 2014 10/04/2014


(1) In respect of any executed instrument, the Collector may, and shall if he is required by any person upon
payment, subject to subsection (1B), of the adjudication fee to do so, express his opinion with reference to such
instrument upon the following questions- (Amended 5 of 2000 s. 3)
(a) whether it is chargeable with any stamp duty;
(b) what amount of stamp duty is chargeable thereon.

(1A) The Financial Secretary may by order amend the Fifth Schedule. (Added 5 of 2000 s. 3)
(1B) The adjudication fee shall not be payable in respect of an instrument where it is provided for under section 24(2),

27(3), 29F(2), 29H(3), 44(3), 45(3) or 47I or under Note 4 to head 1(1) or Note 3 to head 2(3) in the First
Schedule that the instrument shall not be duly stamped unless it is stamped under subsection (3). (Added 5 of
2000 s. 3. Amended 10 of 2013 s. 26)

(1C) Where any person has paid the adjudication fee in respect of an instrument to which subsection (1B) applies, the
Collector may cancel the stamp or the stamp certificate denoting payment of the fee and refund the fee if-
(Amended 21 of 2003 s. 5)
(a) an application for this purpose is made to him not later than 2 years after the day on which the Collector

expressed his opinion under subsection (1); and
(b) the instrument is stamped under subsection (3). (Added 5 of 2000 s. 3)

(2) Any instrument in respect of which-
(a) the adjudication fee is paid under subsection (1) shall be stamped with a stamp or by way of a stamp

certificate denoting the payment of the fee;
(b) the adjudication fee is not payable under subsection (1B) shall be stamped with a stamp or by way of a

stamp certificate denoting that the instrument has been presented for adjudication. (Replaced 21 of 2003 s.
5)

(3) If the Collector is of opinion that the instrument-
(a) is not chargeable with stamp duty, it may, subject to subsection (4), be stamped with a stamp or by way of a

stamp certificate denoting that the instrument is not chargeable with stamp duty;
(b) is chargeable with stamp duty, he shall assess the stamp duty payable, and, subject to subsection (7), where

the instrument is stamped under section 5 with a stamp or under section 18E(1) by way of a stamp
certificate denoting payment of the stamp duty so assessed, the instrument may also be stamped with a
stamp or by way of a stamp certificate denoting that it is duly stamped. (Replaced 21 of 2003 s. 5)

(4) Subject to this section, an instrument upon which the stamp duty has been assessed by the Collector shall not, if
it is not stamped or is insufficiently stamped, be stamped otherwise than in accordance with the assessment; and
in the case of any instrument which in the opinion of the Collector is not chargeable with stamp duty, such
instrument shall not be stamped under subsection (3)(a) unless it is stamped under subsection (2) or section 40
applies. (Amended 5 of 2000 s. 3)

(5) Section 12 shall apply in relation to an instrument in respect of which the Collector intends or is required to
express his opinion under subsection (1) as it applies to an instrument presented to him for stamping, and where
the Collector requires a statutory declaration to be made for the purposes of this section-
(a) such declaration shall not be used against the person making it in any proceeding whatever except in an

inquiry as to the stamp duty with which the instrument to which it relates is chargeable; and
(b) unless such declaration is shown not to be true in any material respect, the person by whom it is made shall,

on payment of the stamp duty chargeable upon the instrument, be relieved from any punishment to which
he may be liable under section 11.

(6) Every instrument stamped under this section with a stamp or by way of a stamp certificate denoting that it is not
chargeable with stamp duty or that it is duly stamped shall be admissible in evidence and available for all
purposes notwithstanding any objection relating to stamp duty. (Amended 21 of 2003 s. 5)

(7) Where in respect of any instrument which is not stamped the Collector is required by any person under this
section before or within the time for stamping such instrument to express his opinion under subsection (1) and
such instrument is in the opinion of the Collector chargeable with stamp duty, the instrument-
(a) may be stamped upon payment of the stamp duty if the stamp duty is paid not later than the time for

stamping such instrument or the expiration of a period of 1 month from the date on which the assessment of
the stamp duty is made, whichever is the later; or

(b) if the stamp duty is not so paid, may be so stamped thereafter upon payment of the stamp duty and a penalty
calculated under section 9 and, for that purpose, section 9 shall apply in relation to the stamping of such



Cap 117 - Stamp Duty Ordinance 10

instrument as it applies in relation to the stamping of an instrument chargeable with stamp duty which is not
stamped before or within the time for stamping such instrument.

(8) Where notice of an assessment of the stamp duty chargeable on any instrument is, within 7 days from the date on
which the assessment is made, served by post on any person who required the Collector to express his opinion
with reference thereto under subsection (1) or who is liable for stamping such instrument, such assessment shall,
after the expiration of a period of 1 month from that date, be final and conclusive for all purposes as against such
person except if and to the extent that an appeal made against it under section 14 succeeds. (Amended 36 of
1994 s. 2)

(9) If, within a period of 1 month from the date on which an assessment is made of the stamp duty chargeable on
any instrument, it appears to the Collector that the amount of the stamp duty so assessed is excessive, he may
cancel such assessment and make such other assessment in substitution therefor as he may deem proper; and any
reference in this Ordinance to an assessment shall be construed as including a reference to an assessment as so
substituted.

(10) Where the payment of stamp duty is denoted on any instrument chargeable with stamp duty or on any stamp
certificate issued for the instrument, in respect of which the Collector expresses or is required to express his
opinion under subsection (1) and the amount of the payment so denoted is less than the amount assessed by the
Collector, then, without prejudice to the liability of any person for the payment of the difference between the
amount of the stamp duty so denoted and the assessment, the instrument shall be chargeable, unless it is stamped
in respect of the difference not later than 1 month from the date on which the assessment is made, with
additional stamp duty of an amount equal to interest on the amount of the difference at the rate of 4 cents per
$100 or part thereof per day in respect of the period beginning on the expiration of a period of 1 month from that
date and ending on the date of the payment of such additional stamp duty; and the person or persons liable for
stamping such instrument in respect of the stamp duty so assessed shall be the person or persons liable for
stamping it in respect of such additional stamp duty. (Amended 21 of 2003 s. 5)

(11) The Collector may remit, wholly or in part, any additional stamp duty payable under subsection (10).

Section: 14 Appeal against assessment E.R. 2 of 2014 10/04/2014


(1) Any person who is dissatisfied with the assessment of the Collector under section 13 or 47L may- (Amended 10
of 2013 s. 27)
(a) within a period of 1 month from the date on which the assessment is made or within such further period as

the court may allow under subsection (5B);
(b) subject to any order of the court under subsection (1B), on payment of the stamp duty in conformity

therewith or, where payment of the stamp duty or any part thereof is allowed to be postponed under
subsection (1A), on payment of the part (if any) of the stamp duty the payment of which is not thus allowed
to be postponed; and

(c) by notice served on the Registrar,
appeal against the assessment to the court and may for that purpose require the Collector to state and sign a case
setting forth the question upon which his opinion was required and the assessment made by him. (Amended 33
of 1998 s. 3)

(1A) Where-
(a) an application in writing made for the purposes of this subsection by the person liable for payment of the

stamp duty payable under an assessment of the Collector under section 13 or 47L is received by the
Collector within 14 days from the date on which the assessment is made; (Amended 10 of 2013 s. 27)

(b) the person has stated in the application that he proposes to bring an appeal against the assessment under
subsection (1); and

(c) security to the satisfaction of the Collector has been given for the payment of the stamp duty that will, by
reason of the exercise of the power by the Collector under this subsection, be postponed,

the Collector may, by notice in writing served on the person, allow payment of the stamp duty payable under the
assessment to be postponed for such period, to such extent and on such terms as the Collector may think fit.
(Added 33 of 1998 s. 3)

(1B) Where the court, on an application made by the person intending to serve a notice under subsection (1), is
satisfied that it would impose hardship on the person to require him to pay the stamp duty or the part of the
stamp duty, as the case may be, under subsection (1)(b), it may by order allow the appeal to which the notice
relates to be brought-



Cap 117 - Stamp Duty Ordinance 11

(a) without payment of the stamp duty or the part of the stamp duty, as the case may be, under subsection
(1)(b), or only on payment of such part of the stamp duty or the part of the stamp duty, as the case may be,
as the court may consider reasonable in the circumstances of the case; and

(b) on security being given to the satisfaction of the court for the payment of the stamp duty or the part of the
stamp duty, as the case may be, that would, apart from this subsection, have to be paid before the appeal can
be brought under subsection (1). (Added 33 of 1998 s. 3)

(1C) Where-
(a) an appeal is brought under subsection (1) against an assessment made of the stamp duty chargeable on any

instrument;
(b) (i) the Collector has under subsection (1A) allowed payment of the stamp duty or any part of the stamp

duty payable under the assessment to be postponed; or
(ii) the court has under subsection (1B) by order allowed an appeal to be brought in the circumstances

specified in that subsection; and
(c) the part of the stamp duty (if any) that still has to be paid before the appeal can be brought under subsection

(1) notwithstanding the postponement or the order of the court, as the case may be, has been paid,
the Collector shall endorse the instrument or, where applicable, issue a stamp certificate in respect of the
instrument, to that effect in such manner as he may think fit. (Added 33 of 1998 s. 3. Amended 21 of 2003 s. 6)

(2) The Collector shall upon being required to state and sign a case under subsection (1) state and sign the case and
deliver the same to the person by whom it is required and the case may, within 7 days thereafter and after service
thereof upon the Secretary for Justice, be set down by such person for hearing. (Amended L.N. 362 of 1997; 33
of 1998 s. 3)

(3) Upon the hearing of the case the court shall determine the question submitted, and, if the instrument in question
is in the opinion of the court chargeable with any stamp duty, the court shall assess the stamp duty chargeable
thereon.

(4) If the amount of the stamp duty assessed by the court is less than the assessment of the Collector, the excess of
stamp duty paid shall be ordered by the court to be repaid together with any excess of penalty paid under under
section 9, 45(5A)(d) or 47H(3) in respect thereof. (Amended 10 of 2013 s. 27)

(5) If in the opinion of the court the assessment of the Collector is not excessive, the court shall make an order
confirming that assessment.

(5A) The court may appoint a member of the Lands Tribunal to sit and assist it in any proceedings or part of any
proceedings under this section; but the decision in the appeal shall be the decision of the court alone. (Added 43
of 1984 s. 2)

(5B) Where the court, on an application made by a person who is dissatisfied with an assessment of the Collector
under section 13 or 47L, is satisfied that the person was prevented by illness or absence from Hong Kong or
other reasonable cause from bringing an appeal within a period of 1 month from the date on which the
assessment is made in accordance with subsection (1), the court may by order allow the appeal to be brought
within such further period as it may consider appropriate. (Added 33 of 1998 s. 3. Amended 10 of 2013 s. 27)

(6) In this section-
court (法庭) means the District Court;
Registrar (司法常務官) means the Registrar of the District Court. (Added 33 of 1998 s. 3. Amended 28 of 2000 s.

47)

Section: 15 Non-admissibility, etc. of instruments not duly stamped 14 of 2014 25/07/2014


(1) Subject to subsection (1A) and section 15A, no instrument chargeable with stamp duty shall be received in
evidence in any proceedings whatsoever except- (Amended 2 of 2014 s. 5; 14 of 2014 s. 3)
(a) criminal proceedings;
(b) civil proceedings by the Collector to recover stamp duty or any penalty payable under this Ordinance,
or be available for any other purpose whatsoever, unless such instrument is duly stamped. (Amended 33 of 1998
s. 4)

(1A) Notwithstanding anything in subsection (1), an instrument which is not duly stamped may be received in
evidence in civil proceedings before a court if-
(a) the court so orders upon the personal undertaking of a solicitor to cause-

(i) such instrument to be stamped in respect of the stamp duty chargeable thereon; and



Cap 117 - Stamp Duty Ordinance 12

(ii) any penalty payable under section 9 in respect thereof to be paid; or
(b) the instrument is endorsed by the Collector under section 14(1C). (Added 33 of 1998 s. 4)

(1B) (Repealed 14 of 2014 s. 3)
(2) Subject to subsection (3), no instrument chargeable with stamp duty shall be acted upon, filed or registered by

any public officer or body corporate unless such instrument is duly stamped or is endorsed by the Collector
under section 14(1C); and any such public officer who or body corporate which fails to comply with this
subsection shall incur a penalty at level 2 which shall be recoverable by the Collector as a civil debt due to the
Government. (Amended 70 of 1994 s. 3; L.N. 338 of 1995; 33 of 1998 s. 4; 12 of 1999 s. 3)

(3) Subsection (2) does not apply in relation to the registration of-
*(a) an instrument under the Land Registration Ordinance (Cap 128) if the instrument is stamped under section

5(1), 13(2) or 18E(1); or (Amended 8 of 1992 s. 3; L.N. 90 of 1999 and 44 of 1999 s. 15; 21 of 2003 s. 7;
14 of 2011 s. 4; 14 of 2014 s. 3)

(b) an instrument of transfer if the instrument is stamped under section 13(2),
but the registration does not affect the question of whether the instrument is duly stamped. (Replaced 43 of 1991
s. 4)

(4) If a public officer is empowered or required by law to act upon, file or register a duplicate or copy of any
instrument, and if the original of such instrument would require to be duly stamped if acted upon, filed or
registered by such public officer, it shall be lawful for such public officer to call for the production of the
original instrument, or for evidence to his satisfaction that it is duly stamped, and no public officer shall act
upon, file or register any such duplicate or copy without production of the original instrument duly stamped or of
evidence as aforesaid.

(5) The amendment made by section 4(1) of the Stamp Duty (Amendment) Ordinance 2011 (14 of 2011) does not
apply in respect of a chargeable agreement for sale that was entered into before the date of commencement# of
that section, and subsection (3)(a) as in force immediately before that date applies to the agreement as if that
amendment had not been made. (Added 14 of 2011 s. 4)

______________________________________________________________________
Notes:
* The amendments made by L.N. 90 of 1999 and Ord. No. 44 of 1999 to section 15(3)(a) shall only apply to an

agreement for sale, or an unwritten sale agreement, as defined in section 29A(1), if the relevant date within
the meaning of section 29B(3) is, in so far as such agreement for sale or unwritten sale agreement (as the
case may be) is concerned, on or after 1 April 1999.

# Commencement date: 30 June 2011.

Section: 15A Exception to non-admissibility of instruments not duly

stamped with ad valorem stamp duty and buyer’s stamp
duty

14 of 2014 23/02/2013



(1) This section applies to an instrument that is not duly stamped only because it falls within either or both of the
following—
(a) the specified amount (as defined by section 29DH(1)) payable for the instrument under section 29DH(3) or

(5) is not paid;
(b) the buyer’s stamp duty chargeable on the instrument is not paid.

(2) Despite section 15(1), the instrument may be received in evidence in civil proceedings before a court if—
(a) for a conveyance on sale—it is produced in evidence by a person who is not the transferee under the

instrument; or
(b) for an agreement for sale—it is produced in evidence by a person who is not the purchaser under the

instrument.
(Added 14 of 2014 s. 4)


Section: 16 Provisions relating to certain leases etc. E.R. 2 of 2014 10/04/2014


(1) A lease or agreement for a lease shall not be charged with stamp duty in respect of any penal rent, or increased
rent in the nature of a penal rent, thereby reserved or agreed to be reserved or made payable, or by reason of
being made in consideration of the surrender or abandonment of any existing lease of or agreement relating to
the same subject matter.



Cap 117 - Stamp Duty Ordinance 13

(2) An agreement for a lease shall be chargeable with stamp duty as a lease made for the term and consideration
mentioned in the agreement.


Section: 17 Instrument increasing rent to be chargeable as a lease E.R. 2 of 2014 10/04/2014


An instrument whereby the rent reserved by any other instrument chargeable with stamp duty and duly stamped as a
lease is increased shall be chargeable with stamp duty as if it were a lease but in respect only of the additional rent
thereby made payable, but this section shall not apply to an instrument made solely for the purpose of giving notice of
any such increase in compliance with any Ordinance.

Section: 18 Calculation of stamp duty as regards foreign currency E.R. 2 of 2014 10/04/2014


(1) Where stamp duty falls to be calculated in respect of any instrument by reference to a sum of money expressed
in a currency other than Hong Kong dollars, there shall, for the purpose of such calculation, be substituted for
that sum of money its equivalent expressed in Hong Kong dollars at the rate of exchange prevailing on the date
of the instrument.

(2) For the purposes of this section rate of exchange (匯率), in relation to any instrument referred to in subsection
(1), means the buying rate for the currency in question, as determined by the Monetary Authority, for telegraphic
transfers at the commencement of business on the date of the instrument or, if that date is a Sunday or a general
holiday, on the business day immediately preceding that date. (Amended 82 of 1992 s. 10)


Section: 18A Fraction of $1 reckoned as $1 E.R. 2 of 2014 10/04/2014


Where any monies payable to the Collector or the Government under this Ordinance, whether by way of stamp duty,
penalty, interest or otherwise, fall to be calculated under this Ordinance, any fraction of $1 included in such monies
shall be reckoned as $1.

(Added 33 of 1998 s. 5. Amended 14 of 2011 s. 5)

Section: 18B Presentation of copies of instruments, etc. E.R. 2 of 2014 10/04/2014


(1) In this Ordinance, any reference to an instrument as one being or required to be presented or tendered to the
Collector for stamping shall be construed as including a reference to a copy of the instrument if it is shown to the
satisfaction of the Collector that it is impracticable in the circumstances of the case that the instrument be or be
required to be so presented or tendered (as the case may be).

(2) Where a copy of an instrument chargeable with stamp duty is presented to the Collector for stamping pursuant to
subsection (1), the Collector may, where he is required or empowered under this Ordinance to stamp the
instrument or cause it to be stamped, issue a stamp certificate in respect of the instrument under Part IIA.
(Amended 21 of 2003 s. 8)

(3) (Repealed 21 of 2003 s. 8)
(4) In this section, a reference to a copy, in relation to an instrument, shall be construed as a reference to a copy

which is shown to the satisfaction of the Collector as a true copy of the instrument.
(Added 44 of 1999 s. 16)


Part: IIA Stamping by Way of Stamp Certificates E.R. 2 of 2014 10/04/2014


(Part IIA added 21 of 2003 s. 9)
(*Format changes—E.R. 2 of 2014)

________________________________________________________________________
Note:
* The format of Part IIA has been updated to the current legislative styles.

Section: 18C Interpretation E.R. 2 of 2014 10/04/2014


In this Part, unless the context otherwise requires-



Cap 117 - Stamp Duty Ordinance 14

electronic record (電子紀錄) has the same meaning as in section 2(1) of the Electronic Transactions Ordinance (Cap
553);

record (紀錄) has the same meaning as in section 2(1) of the Electronic Transactions Ordinance (Cap 553);
send (送交) includes deliver or transmit by electronic means.



Section: 18D Application of this Part E.R. 2 of 2014 10/04/2014


This Part shall apply to an instrument chargeable with stamp duty under heads 1, 2 and 4 in the First Schedule.



Section: 18E Stamping by way of stamp certificates E.R. 2 of 2014 10/04/2014


(1) Subject to section 5(1A), the Collector may, for the purpose of stamping any instrument to which this Part
applies, issue a stamp certificate in respect of the instrument, whether or not the instrument is presented to the
Collector for stamping.

(2) A stamp certificate may be issued in paper form or in the form of an electronic record.
(3) The Collector may issue a stamp certificate-

(a) to denote the payment or remission of stamp duty;
(b) to denote the payment or remission of any penalty payable under this Ordinance;
(c) to denote the payment of an adjudication fee payable under this Ordinance;
(d) to denote the fact that an instrument has been presented for adjudication;
(e) to denote that an instrument is not chargeable with stamp duty;
(f) to denote that an instrument is duly stamped; or
(g) to denote or endorse any particulars or matter which the Collector is required or empowered to denote or

endorse under this Ordinance.
(4) The Collector shall keep a record of any stamp certificate issued by him and, in so far as the stamp certificate is

not cancelled under section 18J, retain the record for a period of not less than 15 years after the day of issue.



Section: 18F Application for stamping without presenting instruments E.R. 2 of 2014 10/04/2014


(1) A person may, in respect of an instrument to which this Part applies and being an instrument specified by the
Collector, apply to the Collector for stamping the instrument without presenting it.

(2) An application under subsection (1) shall-
(a) be made in such form as may be specified by the Collector;
(b) be signed by the applicant and sent to the Collector, in such manner as the Collector may determine; and
(c) in a case where stamp duty or penalty (if any) is payable, be accompanied by payment of the stamp duty or

penalty (if any).
(3) For the purposes of subsection (1), an instrument to be specified by the Collector-

(a) shall be specified by notice published in the Gazette; and
(b) may be specified by reference to a class or description of instruments.

(4) A notice under subsection (3) is subsidiary legislation.



Section: 18G Approval of application made under section 18F E.R. 2 of 2014 10/04/2014


If the Collector is satisfied that-
(a) an application has been made in respect of an instrument specified under section 18F(3); and
(b) section 18F(2) has been complied with,

the Collector may approve the application for stamping made under section 18F and, in respect of the instrument,
issue and send to the applicant a stamp certificate.






Cap 117 - Stamp Duty Ordinance 15

Section: 18H Refusal of application made under section 18F E.R. 2 of 2014 10/04/2014


(1) If the Collector is not satisfied that section 18G(a) or (b) has been complied with, the Collector may refuse to
approve the application for stamping made under section 18F.

(2) Where the Collector refuses the application, the Collector shall notify the applicant of the decision and the
reasons of refusal.

(3) Where the application is refused for failing to comply with section 18G(a), the applicant may present the
instrument to the Collector for stamping under section 5(1)(a).

(4) Where the application is refused for failing to comply with section 18G(b), the applicant may, after complying
with section 18G(b), make a new application to the Collector under section 18F.



Section: 18I Power of Collector to inspect instrument or evidence E.R. 2 of 2014 10/04/2014


(1) Without prejudice to the generality of sections 18G and 18H, the Collector may, at any time after an application
for stamping an instrument is made under section 18F, require the applicant or any other person, who possesses
or controls the following instrument or evidence, to present to the Collector for inspection for the purposes of
this Ordinance-
(a) the instrument; or
(b) such evidence as the Collector may deem necessary in order to show to his satisfaction whether all the facts

and circumstances affecting the liability of the instrument to stamp duty, or the amount of stamp duty
chargeable on the instrument, are fully and truly set forth in the instrument.

(2) The power of the Collector under subsection (1) shall not, in the case where a stamp certificate has been issued,
be exercised more than 6 years from the expiration of the time for stamping the instrument.

(3) Unless the instrument or evidence as provided under subsection (1) is presented-
(a) in the case where a stamp certificate has not been issued, the Collector may-

(i) refuse to issue a stamp certificate in respect of the instrument; or
(ii) issue a stamp certificate in respect of the instrument subject to such conditions as he sees fit; or

(b) in the case where a stamp certificate has been issued, the person who, without reasonable excuse, fails to
comply with subsection (1) shall incur a penalty at level 2 which shall be recoverable by the Collector as a
civil debt due to the Government.



Section: 18J Power of Collector to cancel stamp certificates E.R. 2 of 2014 10/04/2014


(1) The Collector shall cancel a stamp certificate if-
(a) the stamp duty, penalty or adjudication fee (if any) paid in respect of an instrument to which the stamp

certificate relates has been returned, repaid or refunded under this Ordinance;
(b) an allowance has been made in respect of the stamp certificate under this Ordinance; or
(c) requested by any person who has shown to the satisfaction of the Collector that the stamp certificate

contains any error.
(2) For the purposes of subsection (1)(c), an error contained in a stamp certificate does not include a case where

upon the assessment of the stamp duty of an instrument by the Collector under section 13 or 47L, the instrument
is found to be insufficiently stamped. (Amended 10 of 2013 s. 28)

(3) Where a stamp certificate is cancelled under subsection (1), the Collector shall-
(a) send to any of the following persons a notice in writing of the cancellation-

(i) the person who has claimed a refund or an allowance; or
(ii) the person who has made the request for cancellation of the stamp certificate; and

(b) cancel the record of the stamp certificate kept in respect of the instrument.
(4) Where a stamp certificate is cancelled under subsection (1)(a) or (b) for overpayment of stamp duty, the

Collector may issue a new stamp certificate denoting the payment of stamp duty chargeable on the instrument.
(5) Where a stamp certificate is cancelled under subsection (1)(c), the Collector may issue a new stamp certificate to

rectify the error.
(6) Where a stamp certificate is cancelled under subsection (1)(c) for any error which results in an undercharge of

stamp duty, the Collector may only issue a new stamp certificate denoting the payment of stamp duty chargeable



Cap 117 - Stamp Duty Ordinance 16

on the instrument after payment of the undercharged stamp duty has been made.



Part: III Ancillary Provisions Relating to Part II and Part IIA* E.R. 3 of 2015 12/11/2015


(#Format changes—E.R. 3 of 2015)
________________________________________________________________________
Note:
* (Amended 21 of 2003 s. 10)
# The format of Part III has been updated to the current legislative styles.

Section: 19 Contract notes, etc. in respect of sale and purchase of

Hong Kong stock
E.R. 3 of 2015 12/11/2015



(1) Subject to this section, any person who effects any sale or purchase of Hong Kong stock as principal or agent
shall- (Amended 77 of 1981 s. 5)
(a) forthwith make and execute a contract note;
(b) cause the note to be stamped under head 2(1) or (2) in the First Schedule or, in the case of a note to which

section 45 or 47F applies, under section 13(2)- (Amended 43 of 1991 s. 5; 10 of 2013 s. 29)
(i) in the case of a sale or purchase effected in Hong Kong, not later than 2 days thereafter;
(ii) in any other case, not later than 30 days thereafter;

(c) if he is the agent, transmit the stamped note to his principal; (Amended 43 of 1991 s. 5)
(d) cause an endorsement to be made on the instrument of transfer of the stock, or cause a stamp certificate to

be issued in respect of the instrument, to the effect that- (Amended 21 of 2003 s. 11)
(i) stamp duty has been paid on the contract note under head 2(1) or (2) in the First Schedule; or
(ii) in the case of a contract note to which section 45 or 47F applies, the contract note has been stamped

under section 13(2). (Replaced 43 of 1991 s. 5. Amended 10 of 2013 s. 29)
(1A) Subsection (1) shall not apply to a sale or purchase of a unit under a unit trust scheme-

(a) where the sale or purchase is effected by extinguishing such unit; or
(b) where the sale or purchase of the unit is effected by the managers under the unit trust scheme and their

power to effect such sale or purchase arises-
(i) from the transfer to them of that or some other unit within the immediately preceding 2 months; or
(ii) otherwise than from a previous transfer to them of that or some other unit. (Added 77 of 1981 s. 5)

(1B) It shall not be obligatory for an endorsement to be made under subsection (1)(d) where, at the time of the sale or
purchase of Hong Kong stock-
(a) the instrument of transfer of such stock is in the custody of a recognized clearing house in accordance with

the rules of the clearing house; or
(b) the Hong Kong stock is registered in the name of a recognized clearing house or its nominee. (Added 40 of

1992 s. 2)
(1C) Subsection (1) shall not apply to a sale or purchase of Hong Kong stock effected under a market contract.

(Added 68 of 1992 s. 20)
(1D) (a) Subsection (1) shall not apply to any sale or purchase of Hong Kong stock specified as an exempted

transaction in the Fourth Schedule.
(b) Any transfer made for the purpose of effectuating any sale or purchase of Hong Kong stock specified as an

exempted transaction in the Fourth Schedule shall not be chargeable with stamp duty under head 2(4) in the
First Schedule. (Added 33 of 1998 s. 6)

(1DA) Subsection (1) does not apply to a transaction specified in Part 2 of Schedule 8. (Added 4 of 2015 s. 3)
(1E) (a) Subject to paragraph (c), in the case of a transaction whereby the beneficial interest in Hong Kong stock

passes otherwise than on sale and purchase, where the transaction-
(i) is not effectuated by way of a transfer chargeable with stamp duty under head 2(3) in the First

Schedule, but is effectuated by any other means, whether by electronic means or by means of an entry
in any recording or book-keeping system or otherwise; and

(ii) is effectuated whether under or through a recognized clearing house or any other person or
organization,

the transaction shall, for the purposes of this Ordinance, be deemed to be a sale and purchase of Hong Kong



Cap 117 - Stamp Duty Ordinance 17

stock.
(b) For the purposes of this section and head 2(1) in the First Schedule, in a transaction which is deemed to be a

sale and purchase of Hong Kong stock under paragraph (a)-
(i) the person disposing of the stock in the transaction shall be deemed to be the person effecting the sale

in the sale and purchase;
(ii) the person acquiring the stock in the transaction shall be deemed to be the person effecting the

purchase in the sale and purchase;
(iii) where the person maintaining the record of the transaction is not the principal effecting the sale and

purchase, the person shall, save in the case of a recognized clearing house, be deemed to be the agent
effecting the sale and purchase; and

(iv) the value of the stock in the transaction shall be deemed to be the amount or value of the consideration
for the sale and purchase.

(c) Paragraph (a) shall not apply to a transaction of the kind referred to in that paragraph where the transaction
would, if it were effectuated by way of a transfer chargeable with stamp duty under head 2(3) in the First
Schedule, be a transfer of the kind referred to in section 27(5). (Added 33 of 1998 s. 6)

(1F) For the purposes of subsection (1), where-
(a) any sale or purchase of Hong Kong stock is effected by an exchange participant, whether as principal or

agent;
(b) the contract note required to be made under subsection (1) in respect of the sale or purchase is one to which

an agreement under section 5A relates; and
(c) the contract note is made by the exchange participant,

the contract note shall, whether or not it has been executed by the exchange participant, be regarded as having
been so executed. (Added L.N. 90 of 1999 and 44 of 1999 s. 17. Amended 12 of 2000 s. 23)

(2) A contract note required to be made under subsection (1) shall state the following-
(a) whether the person effecting the sale or purchase of the Hong Kong stock is acting as principal or agent

and, if as agent, the name of his principal;
(b) the date of the transaction and of the making of the contract note;
(c) the quantity and description of such Hong Kong stock;
(d) the price per unit of such Hong Kong stock and the amount of the consideration or, in the case of an

exchange, particulars of the property for which such Hong Kong stock is exchanged; and
(e) the date of settlement.

(3) No agent or other person shall have any legal claim to any charge for brokerage, commission or agency with
reference to the sale or purchase of any Hong Kong stock if he fails to comply with the provisions of this
section.

(4) The stamp duty paid in respect of a contract note may be added to any charge for brokerage or agency and shall
be recoverable as part of such charge.

(5) Where a contract note relates to the sale or purchase of more than one description of Hong Kong stock, the note
shall be deemed to be as many contract notes as there are descriptions of Hong Kong stock sold or purchased.

(6) If in the case of a sale or purchase of any Hong Kong stock effected by a person who is not resident in Hong
Kong, the stamp duty specified in head 2(1) in the First Schedule is not paid, there shall be charged on the
instrument of transfer, in addition to the stamp duty otherwise chargeable thereon, stamp duty equal to the
amount of the stamp duty so payable in respect of such sale or purchase; and in respect of stamp duty charged on
an instrument of transfer under this subsection, the transferee shall be the person liable for stamping such
instrument and the time for stamping it shall be 30 days after execution thereof.

(7) Where any instrument of transfer is stamped under subsection (6), the Collector shall endorse the instrument, or
issue a stamp certificate in respect of the instrument, to that effect in such manner as he may think fit.
(Amended 21 of 2003 s. 11)

(8) An instrument of transfer of any Hong Kong stock shall not be duly stamped unless-
(a) it is endorsed under subsection (1)(d) or (7) in respect of both sale and purchase; (Amended 40 of 1992 s.

2)
(b) it is endorsed by the Collector in such manner as he may think fit to the effect that-

(i) stamp duty has been paid in respect thereof under head 2(3) in the First Schedule; or
(ii) no stamp duty is chargeable thereon under subsection (6) or head 2(1) or 2(3) in the First Schedule; or

(Amended 43 of 1991 s. 5; 40 of 1992 s. 2)
(c) the Hong Kong stock is transferred to a recognized clearing house, or its nominee, in accordance with the



Cap 117 - Stamp Duty Ordinance 18

rules of the clearing house. (Added 40 of 1992 s. 2)
(9) An endorsement under subsection (1) in respect of stamp duty paid-

(a) under head 2(1) in the First Schedule may be made by the Collector or any person authorized by the
Collector in that behalf;

(b) under head 2(2) in the First Schedule shall be made by the Collector,
in such manner as the Collector may think fit.

(9A) An endorsement under subsection (1)(d)(ii) shall be made by the Collector in such manner as he thinks fit.
(Added 43 of 1991 s. 5)

(10) Any person who makes an endorsement for the purposes of subsection (1)(d) which is false in a material
particular commits an offence.

(10A) In relation to a sale or purchase of a unit under a unit trust scheme other than a sale or purchase referred to
in subsection (1A), the obligations imposed by this section (other than subsection (1)(c)) and head 2(1) in the
First Schedule on any person other than the managers under the unit trust scheme shall be carried out by the
managers in addition to any obligation so imposed on them, and for that purpose subsection (2)(a) shall not
apply. (Added 77 of 1981 s. 5)

(11) Subject to subsections (12), (12A) and (13), nothing in this section shall apply to-
(a) a stock borrowing; or
(b) a stock return. (Replaced 67 of 1989 s. 3)

(12) Where, in respect of a stock borrowing-
(a) the borrower ceases to be required to make a stock return in accordance with the stock borrowing and

lending agreement to which the stock borrowing relates, in respect of the borrowed stock or part thereof or
its reasonable equivalent (other than that which is the subject of the stock return referred to in paragraph
(c)), pursuant to the stock borrowing and lending agreement or to any other agreement reached with the
lender of the borrowed stock (whether by settlement or otherwise); (Replaced L.N. 90 of 1999 and 44 of
1999 s. 17)

(b) the borrowed stock or part thereof or its reasonable equivalent was used for a purpose other than a specified
purpose; or (Amended L.N. 90 of 1999 and 44 of 1999 s. 17)

(c) the borrower fails to comply with any demand made by the lender of the borrowed stock under the stock
borrowing and lending agreement to which the stock borrowing relates to make a stock return in respect of
the borrowed stock or part thereof or its reasonable equivalent,

such stock borrowing shall, for the purposes of this Ordinance, be deemed to be a sale and a purchase of-
(i) where paragraph (a) applies, the borrowed stock or part thereof, or the reasonable equivalent, which is the

subject of the stock return the borrower ceases to be required to make as described in that paragraph;
(ii) where paragraph (b) applies, the borrowed stock or part thereof which, or the borrowed stock or part thereof

the reasonable equivalent of which, was used for a purpose other than a specified purpose as described in
that paragraph; or

(iii) where paragraph (c) applies, the borrowed stock or part thereof, or the reasonable equivalent, which is the
subject of the stock return referred to in that paragraph. (Amended L.N. 90 of 1999 and 44 of 1999 s. 17)

(12AA) This Ordinance, except subsection (1)(d), shall apply to the sale and purchase referred to in subsection (12)
as if that sale and purchase were effected in Hong Kong-
(a) by the borrower who obtained the relevant borrowed stock;
(b) on the specified day; and
(c) for a consideration calculated at the previous closing price of Hong Kong stock of the same description as

the stock which is the subject of the sale and purchase or, if there is more than one description of the stock,
at their respective previous closing prices as quoted on the relevant recognized stock market. (Added L.N.
90 of 1999 and 44 of 1999 s. 17. Amended 5 of 2002 s. 407)

(12A) Subsection (11) shall not apply to any stock borrowing or stock return, unless-
(a) an executed copy of the stock borrowing and lending agreement under which the stock borrowing and stock

return are provided for, or a copy of the stock borrowing and lending agreement which is shown to the
satisfaction of the Collector as a true copy thereof;

(b) such fee as may be specified by the Financial Secretary for the purposes of this subsection by notice in the
Gazette; and

(c) such other documents, and such particulars and information as the Collector may require,
are provided by the borrower to the Collector at any time after the stock borrowing and lending agreement is

executed but before the expiry of 30 days after the stock borrowing is effected. (Replaced L.N. 90 of 1999 and



Cap 117 - Stamp Duty Ordinance 19

44 of 1999 s. 17)
(13) A borrower who has effected any stock borrowings under a stock borrowing and lending agreement, an executed

copy of which has been provided to the Collector in accordance with subsection (12A), shall- (Amended 33 of
1998 s. 6)
(a) keep a book in such form;
(b) enter in such book, in respect of such stock borrowings and any stock returns made in respect of such stock

borrowings, such particulars; and
(c) furnish to the Collector a return-

(i) in such form;
(ii) containing such particulars in respect of such book; and
(iii) at such times,

as the Collector may require. (Added 67 of 1989 s. 3)
(14) A borrower who, with intent to defraud the Government of any stamp duty , causes or allows-

(a) an entry to be made in a book kept under subsection (13)(a); or
(b) any particular to be furnished in a return made to the Collector under subsection (13)(c),

which he knows or has reasonable grounds for believing to be false or misleading in a material respect commits
an offence. (Replaced 70 of 1994 s. 4)

(15) A borrower who fails to comply with the requirements of subsection (13) shall incur a penalty at level 2 which
shall be recoverable by the Collector as a civil debt due to the Government. (Replaced 70 of 1994 s. 4.
Amended L.N. 338 of 1995; 12 of 1999 s. 3)

(16) In this section-
allotment (分配), in relation to units under a unit trust scheme, means the issue of such units;
borrowed stock (被借用證券), in relation to a stock borrowing, means any Hong Kong stock obtained by a borrower

under such stock borrowing; (Replaced 70 of 1994 s. 4)
borrower (借用人), means a person who is eligible to obtain Hong Kong stock under a stock borrowing and lending

agreement; (Added 70 of 1994 s. 4. Amended 33 of 1998 s. 6)
lender (借出人) means a person who is eligible to lend Hong Kong stock under a stock borrowing and lending

agreement; (Added 70 of 1994 s. 4. Amended 33 of 1998 s. 6)
market contract (市場合約) means a market contract within the meaning of section 1 of Part 1 of Schedule 1 to the

Securities and Futures Ordinance (Cap 571); (Added 68 of 1992 s. 20. Amended 62 of 1995 s. 12; 5 of 2002 s.
407)

previous closing price (先前收市價格), in relation to Hong Kong stock, means the previous closing price of such
Hong Kong stock as determined in accordance with the rules and practices of the recognized exchange company
that operates the relevant stock market; (Amended 5 of 2002 s. 407)

reasonable equivalent (合理對等項目), in relation to any stock obtained pursuant to the provisions referred to in
paragraph (a)(i)(A) or (b)(i)(A) of the definition of stock borrowing and lending agreement, means any stock or
monies which, in the opinion of the Collector, can, as a result of the occurrence of a relevant event, be
reasonably and fairly be regarded as the equivalent of the stock so obtained; (Added L.N. 90 of 1999 and 44 of
1999 s. 17)

recognized clearing house (認可結算所) means a recognized clearing house within the meaning of section 1 of Part
1 of Schedule 1 to the Securities and Futures Ordinance (Cap 571); (Replaced 68 of 1992 s. 20. Amended 62 of
1995 s. 12; 5 of 2002 s. 407)

relevant event (有關事件), in relation to any stock obtained pursuant to the provisions referred to in paragraph
(a)(i)(A) or (b)(i)(A) of the definition of stock borrowing and lending agreement, means-
(a) the exercise of any of the powers conferred by section 53(1)(a) to (d) of the relevant Ordinance; (Replaced

28 of 2012 ss. 912 & 920)
(ab) the exercise of any of the powers conferred by section 170(2)(a) to (e) and 174(1) of the Companies

Ordinance (Cap 622); or (Added 28 of 2012 ss. 912 & 920)
(b) any other event,

which, in the opinion of the Collector, makes any requirement to return stock of the same quantity and
description as the stock so obtained either impracticable or inappropriate; (Added L.N. 90 of 1999 and 44 of
1999 s. 17)

rules (規章), in relation to a recognized clearing house and a recognized exchange company, has the same meaning as



Cap 117 - Stamp Duty Ordinance 20

it has in relation to those bodies in section 1 of Part 1 of Schedule 1 to the Securities and Futures Ordinance (Cap
571); (Replaced 5 of 2002 s. 407)

sale or purchase (售賣或購買 ) includes any disposal or acquisition (other than an allotment) for valuable
consideration, and exchange, and any transaction in respect of which an instrument is deemed by virtue of
section 30(3), (4) or (5) to be a transfer by way of sale, and any reference to sale (售賣) or purchase (購買)
shall be construed accordingly;

specified day (指明日期), in relation to a stock borrowing, means-
(a) where subsection (12)(a) applies, the day on which the borrower ceases to be required to make a stock

return as described in that subsection;
(b) where subsection (12)(b) applies, the day on which the borrowed stock referred to in that subsection was

obtained under the stock borrowing and lending agreement to which the stock borrowing relates; or
(c) where subsection (12)(c) applies, the day on which the borrower fails to comply with any demand as

described in that subsection; (Replaced L.N. 90 of 1999 and 44 of 1999 s. 17)
specified payment (指明付款), in relation to any stock, means a payment of an amount equivalent to the amount of

any dividend, interest and other distribution payable in respect of the stock or its reasonable equivalent or both
by the issuer of the stock or its reasonable equivalent or by any other person to the holder of the stock or its
reasonable equivalent during the period after the stock is obtained pursuant to the provisions referred to in
paragraph (a)(i)(A) or (b)(i)(A) of the definition of stock borrowing and lending agreement and before a return
or delivery is required to be made in accordance with the provisions referred to in paragraph (a)(i)(B) or
(b)(i)(B) of that definition; (Added L.N. 90 of 1999 and 44 of 1999 s. 17)

specified purpose (指明用途), in relation to the borrowing of stock by any person, means-
(a) the settling of a sale of Hong Kong stock wherever effected, whether by the person himself or another

person;
(b) the settling of a future sale of Hong Kong stock, whether agreed or not when such borrowing is effected and

whether by the person himself or another person;
(c) the replacement, in whole or in part, of Hong Kong stock obtained by the person under another stock

borrowing;
(d) the on-lending of the stock borrowed to another person who effects a stock borrowing in respect of such

stock on-lent; or
(e) such other purpose as the Collector may, in writing, allow either generally or in any particular case; (Added

70 of 1994 s. 4. Amended 33 of 1998 s. 6)
stock borrowing (證券借用) means the obtaining by a borrower from a lender, under a stock borrowing and lending

agreement, of Hong Kong stock the sale and purchase of which in Hong Kong are subject to the rules and
practices of the recognized exchange company that operates the relevant stock market, whether the Hong Kong
stock is so obtained- (Amended L.N. 90 of 1999 and 44 of 1999 s. 17; 5 of 2002 s. 407)
(a) directly from the lender; or
(b) indirectly under or through a recognized clearing house and in accordance with the rules of that recognized

clearing house which constitute the stock borrowing and lending agreement; (Replaced 70 of 1994 s. 4.
Amended 33 of 1998 s. 6)

stock borrowing and lending agreement (證券借用及借出協議) means-
(a) an agreement which-

(i) contains-
(A) provisions providing for the obtaining of any stock by a person from any other person;
(B) provisions requiring-

(I) the return of stock of the same quantity and description as the stock obtained pursuant to
the provisions referred to in sub-subparagraph (A); or

(II) the delivery of the reasonable equivalent of the stock so obtained; and
(C) provisions which-

(I) require a specified payment to be made by the person by whom the stock is obtained
pursuant to the provisions referred to in sub-subparagraph (A) to the person from whom the
stock is obtained pursuant to the provisions; or

(II) provide for an arrangement which, in the opinion of the Collector, can be regarded as a fair
and proper alternative to the requirement to make the specified payment; and



Cap 117 - Stamp Duty Ordinance 21

(ii) does not, in the opinion of the Collector, have the effect of reducing the risk of loss or opportunity for
gain, in respect of the stock, of the person from whom the stock is obtained pursuant to the provisions
referred to in subparagraph (i)(A); or

(b) the rules of a recognized clearing house which-
(i) contain the following provisions approved by the Collector-

(A) provisions providing for the obtaining of any stock by a participant of the clearing system of the
recognized clearing house from any other participant of such clearing system;

(B) provisions requiring-
(I) the return of stock of the same quantity and description as the stock obtained pursuant to

the provisions referred to in sub-subparagraph (A); or
(II) the delivery of the reasonable equivalent of the stock so obtained; and

(C) provisions which-
(I) require a specified payment to be made by the participant by whom the stock is obtained

pursuant to the provisions referred to in sub-subparagraph (A) to the participant from
whom the stock is obtained pursuant to the provisions; or

(II) provide for an arrangement which, in the opinion of the Collector, can be regarded as a fair
and proper alternative to the requirement to make the specified payment;

(ii) do not, in the opinion of the Collector, have the effect of reducing the risk of loss or opportunity for
gain, in respect of the stock, of the person from whom the stock is obtained pursuant to the provisions
referred to in subparagraph (i)(A); and

(iii) are subscribed to by participants of the clearing system of the recognized clearing house as a
precondition for their obtaining of any stock within the meaning of subparagraph (i)(A); (Replaced
L.N. 90 of 1999 and 44 of 1999 s. 17)

stock return (證券交還), in relation to a stock borrowing, means a transaction by which a borrower, in accordance
with the stock borrowing and lending agreement to which the stock borrowing relates-
(a) returns any stock which is of the same description as the borrowed stock (other than that which is the

subject of a sale and purchase referred to in subsection (12)); or
(b) delivers any reasonable equivalent of the borrowed stock (other than that which is the subject of a sale and

purchase referred to in subsection (12)),
whether or not the return or delivery is made- (Amended L.N. 90 of 1999 and 44 of 1999 s. 17)

(i) directly to the lender; or
(ii) indirectly under or through a recognized clearing house and in accordance with the rules of that recognized

clearing house which constitute the stock borrowing and lending agreement; (Replaced 70 of 1994 s. 4.
Amended 33 of 1998 s. 6)

transaction (交易), in relation to a stock return, includes the return by a borrower to a lender of a lesser quantity of
stock than that obtained by him on the day that the borrowed stock was so obtained. (Added 70 of 1994 s. 4)

(Amended 70 of 1994 s. 4)

Section: 19A Refund of stamp duty in respect of sale and purchase of

units under unit trust schemes
E.R. 3 of 2015 12/11/2015



(1) Where stamp duty is paid under head 2(1) in the First Schedule in respect of a sale or purchase of a unit under a
unit trust scheme effected by the managers under such scheme, the stamp duty shall be refunded to the managers
upon application to the Collector under subsection (2) if the managers and trustees under such scheme, before
the expiration of 2 months from the date on which the sale or purchase is effected, jointly certify that-
(a) the certificate, if any, in respect of the unit has been cancelled;
(b) as a consequence of the sale or purchase, a proportionate part of the trust property has been realized, and the

trust property diminished accordingly; and
(c) the unit is extinguished and the managers have no power to transfer any other unit in lieu thereof.

(2) On an application for a refund of stamp duty under this section, the applicant shall produce to the Collector the
contract notes in respect of which the stamp duty was paid or, where applicable, the stamp certificates issued in
respect of the contract notes, and the joint certificate of the managers and trustees referred to in subsection (1).
(Amended 21 of 2003 s. 12)

(3) In this section trust property (信託財產) has the meaning assigned to it by section 30.



Cap 117 - Stamp Duty Ordinance 22

(Added 77 of 1981 s. 6)

Section: 20 Stamp duty payable where transaction in respect of Hong

Kong stock does not amount to jobbing business
E.R. 3 of 2015 12/11/2015



Where a contract note is stamped under head 2(2) in the First Schedule but the whole or any part of the transaction to
which it relates is shown thereafter not to amount to jobbing business, there shall be payable by the exchange
participant effecting the sale or purchase to which the contract note relates by way of stamp duty on demand in respect
of a note to be issued by the Collector- (Amended 12 of 2000 s. 23)

(a) an amount equal to the stamp duty which would have been payable if the contract note had been stamped
under head 2(1) in the First Schedule; and

(b) an amount equal to interest on the amount referred to in paragraph (a) at the rate of 3 cents per $100 per day
in respect of the period from the date of the purchase or sale to the date of payment of that amount:

Provided that where the amount referred to in paragraph (a) includes a fraction of $100 such fraction shall, for the
purposes of determining the amount referred to in paragraph (b), be reckoned as $100.

Section: 21 Passing on of dividends or interest on Hong Kong stock

prohibited
E.R. 3 of 2015 12/11/2015



(1) No person shall be entitled to claim, directly or indirectly, the payment of any dividend or interest or of the
amount or value of any dividend or interest on any Hong Kong stock unless-
(a) such person is the registered owner of the Hong Kong stock at the time of such claim;
(b) such person was the registered owner of the Hong Kong stock at some time subsequent to the date on which

the dividend was declared or the interest became due;
(c) such person is entitled to be paid such dividend or interest under a declaration of trust in favour of a

specified person or otherwise as a beneficiary under a trust; or
(d) such person has lent money on the security of the Hong Kong stock and is entitled by the terms of the loan

to claim such dividend or interest.
(2) No person shall demand or request or accept, directly or indirectly, payment of any dividend or interest or of the

amount or value of any dividend or interest which under subsection (1) he is not entitled to claim.
(3) No person shall, directly or indirectly, pay any dividend or interest or the amount or value of any dividend or

interest on any Hong Kong stock to any other person unless-
(a) such other person is the registered owner of the Hong Kong stock;
(b) such other person was the registered owner of the Hong Kong stock at some time subsequent to the date on

which the dividend was declared or the interest became due;
(c) such other person is entitled to be paid such dividend or interest under a declaration of trust in favour of a

specified person or otherwise as a beneficiary under a trust; or
(d) such other person has lent money on the security of the Hong Kong stock and is entitled by the terms of the

loan to claim such dividend or interest.
(4) Notwithstanding anything in this section, this section shall not apply to specified payment as defined in section

19(16). (Added L.N. 90 of 1999 and 44 of 1999 s. 18)

Section: 22 Stamp duty chargeable where consideration in respect of

immovable property consists of stock or security other
than stock

E.R. 3 of 2015 12/11/2015



(1) Where the consideration or any part of the consideration for a conveyance on sale consists of any stock, the
conveyance shall be chargeable with stamp duty by reference to the value of the stock on the date of the
conveyance.

(2) Where the consideration or any part of the consideration for a conveyance on sale consists of any security not
being stock, the conveyance shall be chargeable with stamp duty by reference to the amount due on the date of
the conveyance for principal and interest upon the security.





Cap 117 - Stamp Duty Ordinance 23

Section: 23 How consideration consisting of periodical payments to be
charged

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(1) In the case of a conveyance on sale or a sale or purchase of Hong Kong stock, where the consideration or any
part of the consideration consists of money payable periodically for a definite period not exceeding 20 years so
that the total amount to be paid can be previously ascertained, the conveyance or contract note shall be
chargeable with stamp duty by reference to a consideration of such total amount.

(2) In the case of a conveyance on sale or a sale or purchase of Hong Kong stock, where the consideration or any
part of the consideration consists of money payable for a definite period exceeding 20 years or in perpetuity or
for any indefinite period not terminable with life, the conveyance or contract note shall be chargeable with stamp
duty by reference to a consideration of an amount equal to the total amount which will or may, according to the
terms of sale, be payable during the period of 20 years after the date of the conveyance or contract note.

(3) In the case of a conveyance on sale or a sale or purchase of Hong Kong stock, where the consideration or any
part of the consideration consists of money payable periodically for a life or lives, the conveyance or contract
note shall be chargeable with stamp duty by reference to a consideration equal to the amount which will or may,
according to the terms of sale, be payable during the period of 12 years after the date of the conveyance or
contract note.


Section: 24 Stamp duty chargeable where conveyance etc. is in

consideration of debt etc.
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(1) In the case of a conveyance on sale or any transaction whereby a beneficial interest in Hong Kong stock passes,
where the conveyance or transaction is in consideration, wholly or in part, of any debt due to the transferee or is
subject either certainly or contingently to the payment or transfer of any money or stock, whether or not being or
constituting a charge or incumbrance upon the property or interest so conveyed or passing, the debt, money or
stock is to be deemed the whole or part, as the case may be, of the consideration by reference to which the
conveyance or contract note is chargeable with stamp duty.

(2) Where a conveyance on sale or transaction whereby a beneficial interest in any Hong Kong stock passes is in
consideration wholly or in part of any debt due to the transferee and, apart from this subsection, the
consideration by reference to which the conveyance or contract note would be chargeable with stamp duty would
exceed the value of the property conveyed or beneficial interest passing, that consideration shall be treated as
reduced to that value; and the conveyance or contract note shall not be duly stamped unless it is stamped under
section 13(3).

(3) Where, by virtue of or in connection with any transaction referred to in subsection (1) whereby a beneficial
interest in any shares in a body corporate passes, any liability is incurred by the transferee in respect of any
indebtedness of the body corporate, the transaction shall, in addition to any other payment of money or transfer
of shares to which it is subject, be deemed to be subject to the payment of an amount of money equal to the
amount of such indebtedness.


Section: 25 Stamp duty chargeable in case of certain conveyances E.R. 3 of 2015 12/11/2015


(1) Where immovable property contracted to be sold for one consideration for the whole is conveyed to the
purchaser in separate parts or parcels by different instruments, the consideration shall 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
conveyance relating thereto, and such conveyance shall be chargeable with stamp duty by reference to such
distinct consideration.

(2) Where immovable property contracted to be purchased for one consideration for the whole by 2 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 to the persons by or for whom the same was purchased for distinct parts of the consideration, the
conveyance of each separate part or parcel shall be chargeable with stamp duty by reference to the distinct part
of the consideration therein specified.

(3) Where there are several instruments of conveyance for completing the purchaser's title to immovable property
sold, the principal instrument of conveyance only shall be chargeable with stamp duty and the other instruments
shall not be chargeable with stamp duty.

(4) Where a person having contracted for the purchase of any immovable property but not having obtained a



Cap 117 - Stamp Duty Ordinance 24

conveyance thereof contracts to sell the same to any other person and the property is in consequence conveyed
immediately to the sub-purchaser, the conveyance shall be chargeable with stamp duty by reference to the
consideration moving from the sub-purchaser.

(5) Where a person having contracted for the purchase of any immovable property but not having obtained a
conveyance contracts to sell the whole or any part or parts thereof to any other person or persons and the
property is in consequence conveyed by the original seller to different persons in parts or parcels, the
conveyance of each part or parcel shall be chargeable with stamp duty by reference only to the consideration
moving from the sub-purchaser thereof, without regard to the amount or value of the original consideration.

(6) Where a sub-purchaser takes an actual conveyance of the interest of the person immediately selling to him,
which is chargeable with stamp duty by reference to the consideration moving from him and is duly stamped
accordingly, any conveyance to be afterwards made to him of the same immovable property by the original
seller shall not be chargeable with stamp duty.

(7) Where upon the exchange of any immovable property for any other immovable property, or upon the partition of
any immovable property, any consideration is paid or given, or agreed to be paid or given, for equality, the
principal or only instrument whereby the exchange or partition is effected shall, subject to sections 27, 29AO
and 29AP, be charged with the same stamp duty as a conveyance on sale for the consideration, and with that
stamp duty only; and where in any such case there are several instruments for completing the title of either party,
the instruments other than the principal instrument shall not be chargeable with any stamp duty. (Amended 14
of 2014 s. 5)


Section: 26 (Repealed 14 of 2014 s. 6) 14 of 2014 23/02/2013




Section: 27 Voluntary dispositions E.R. 3 of 2015 12/11/2015


(1) Any conveyance of immovable property operating as a voluntary disposition inter vivos shall be chargeable with
stamp duty as a conveyance on sale, with the substitution of the value of the property conveyed for the amount
or value of the consideration for the sale.

(2) In the case of an instrument of transfer operating as a voluntary disposition inter vivos of Hong Kong stock, or
an instrument referred to in section 28(1) which so operates by virtue of that section, any stamp duty paid in
respect of contract notes made under section 19(1) in respect of the amount or value of any consideration given
by the transferee for such Hong Kong stock shall be set off against the stamp duty chargeable on such instrument
of transfer.

(3) A conveyance or transfer operating as a voluntary disposition inter vivos shall not be duly stamped unless the
Collector has stamped the instrument of conveyance or transfer under section 13(3)(b).

(4) Any conveyance or transfer (not being a disposition made in favour of a purchaser or incumbrancer or other
person in good faith and for valuable consideration) shall for the purposes of this Ordinance be deemed to be a
conveyance or transfer operating as a voluntary disposition inter vivos, and (except where marriage is the
consideration) the consideration for any conveyance or transfer shall not for this purpose be deemed to be
valuable consideration where the Collector is of opinion that by reason of the inadequacy of the sum paid as
consideration or other circumstances the conveyance or transfer confers a substantial benefit on the person to
whom the property is conveyed or transferred.

(5) Nothing in this section shall apply to a conveyance or transfer made for nominal consideration for the purpose of
securing the repayment of an advance or loan or made for effectuating the appointment of a new trustee, whether
the trust is expressed or implied, or under which no beneficial interest passes in the property conveyed or
transferred, or made to a beneficiary by a trustee or other person in a fiduciary capacity under any trust, whether
expressed or implied, and this subsection shall have effect only if the circumstances exempting the conveyance
or transfer from charge under this section are set forth in the conveyance or transfer. (Amended 33 of 1998 s. 7)

(6) In this section conveyance (轉易契) includes any agreement for a lease or any release or renunciation of
immovable property.





Cap 117 - Stamp Duty Ordinance 25

Section: 28 Stamp duty chargeable in case of conveyance or transfer in
contemplation of sale or subject to power of revocation etc.

E.R. 3 of 2015 12/11/2015



(1) Subject to this section, any instrument whereby property is conveyed or transferred to any person in
contemplation of a sale of that property shall be treated as a conveyance or transfer operating as a voluntary
disposition inter vivos of that property.

(2) If on a claim made to the Collector not later than 2 years after the making or execution of an instrument to which
subsection (1) applies, it is shown to his satisfaction-
(a) that the sale in contemplation of which the instrument was made or executed has not taken place and the

property has been re-conveyed or re-transferred to the person from whom it was conveyed or transferred or
to a person to whom his rights have been transmitted on death or bankruptcy; or

(b) that the sale has taken place for a consideration which is less than the value by reference to which stamp
duty was paid in respect of the instrument by virtue of this section,

the Collector shall repay the stamp duty paid by virtue of this section, in a case falling under paragraph (a), so
far as it exceeds the stamp duty which would have been payable apart from this section and, in a case falling
under paragraph (b), so far as it exceeds the stamp duty which would have been payable if the instrument had
been stamped in accordance with subsection (1) in respect of a value equal to the consideration in question:

Provided that, in a case falling under the said paragraph (b), stamp duty shall not be repayable if it appears to the
Collector that the circumstances are such that a conveyance or transfer on the sale in question would have been
chargeable with stamp duty by virtue of section 27(4).

(3) Subsections (1) and (2) shall apply whether or not an instrument conveys or transfers other property in addition
to the property in contemplation of the sale of which it is made or executed, but those subsections shall not affect
the stamp duty chargeable in respect of that other property.

(4) For the purposes of section 27 and this section, the value of property conveyed or transferred by an instrument
chargeable with stamp duty in accordance with either of those provisions shall be determined without regard to-
(a) any power (whether or not contained in the instrument) on the exercise of which the property, or any part of

or any interest in the property, may be re-vested in the person from whom it was conveyed or transferred or
in any person on his behalf;

(b) any annuity reserved out of the property or any part of it, or any life or other interest so reserved, being an
interest which is subject to forfeiture,

but if on a claim made to the Collector not later than 2 years after the making or execution of the instrument it is
shown to his satisfaction that any such power as is mentioned in paragraph (a) has been exercised in relation to
the property and the property or any property representing it has been re-conveyed or re-transferred in whole or
in part in consequence of that exercise the Collector shall repay the stamp duty paid by virtue of this subsection,
in a case where the whole of such property has been so re-conveyed or re-transferred, so far as it exceeds the
stamp duty which would have been payable apart from this subsection and, in any other case, so far as it exceeds
the stamp duty which would have been payable if the instrument had operated to convey or transfer only such
property as is not so re-conveyed or re-transferred.


Section: 29 Certificate with respect to certain conveyances on sale E.R. 3 of 2015 12/11/2015


(1) References in head 1(1) in the First Schedule to a conveyance on sale being certified at a particular amount mean
that such conveyance on sale contains a statement certifying that the transaction effected by the instrument does
not form part of a larger transaction or series of transactions in respect of which the amount or value, or
aggregate amount or value, of the consideration exceeds that amount.

(2) In subsection (1) a reference to the amount or value of the consideration shall be construed-
(a) in relation to stamp duty chargeable on a conveyance operating as a voluntary disposition inter vivos, as a

reference to the value of the property conveyed;
(b) in relation to stamp duty chargeable on a lease or agreement for a lease, as a reference to the amount or

value of the consideration in money, stock or security, other than rent.

Part: IIIA Certain Instruments Dealing with Immovable Property# E.R. 2 of 2014 10/04/2014


(Part IIIA added 8 of 1992 s. 4)



Cap 117 - Stamp Duty Ordinance 26

(*Format changes—E.R. 2 of 2014)
________________________________________________________________________
Note:
# (Replaced 14 of 2014 s. 7)
* The format of Part IIIA has been updated to the current legislative styles.

Part:
Division:

IIIA
1

Preliminary 14 of 2014 23/02/2013



(Added 14 of 2014 s. 8)

Section: 29A Interpretation and application of Part IIIA E.R. 2 of 2014 10/04/2014


(1) In this Part and the First Schedule-
agreement for sale (買賣協議) means-

(a) an instrument in which a person contracts to sell or purchase immovable property;
(b) an instrument in which a person confers, or has conferred on him, an option or a right to purchase

immovable property or a right of pre-emption in respect of immovable property, other than a specified
option or right;

(c) an instrument, other than a mortgage or charge made in favour of a financial institution within the meaning
of section 2 of the Inland Revenue Ordinance (Cap 112), in which a person-
(i) gives or is given a power of attorney expressed to be irrevocable and given to secure a proprietary

interest of the donee of the power or the performance of an obligation owed to the donee, and giving
the donee authority on behalf of the donor to sell or otherwise dispose of any interest of the donor in
immovable property; or

(ii) grants or is granted an authority on behalf of the grantor to sell or otherwise dispose of any interest of
the grantor in immovable property, and under which consideration for that authority moves from the
grantee of the authority to the grantor;

(d) an instrument in which a declaration of trust in respect of immovable property is made, other than a
declaration of trust under which no beneficial interest passes in the property subject to the declaration;

(e) an instrument which, if implemented, would be implemented by a conveyance on sale;
(f) an instrument which constitutes a memorandum, note, or other evidence of an unwritten sale agreement;
(g) an instrument in which a purchaser under an instrument referred to in this definition assigns any rights

under the second-mentioned instrument in respect of immovable property;
(h) except as provided in section 29AB, an instrument in which a purchaser under an instrument referred to in

this definition makes a nomination or gives a direction that- (Amended 14 of 2014 s. 9)
(i) transfers, or gives a power to transfer, any benefit, in respect of immovable property, of the purchaser

under the second-mentioned instrument; or
(ii) authorizes another person to take a conveyance of immovable property that is subject to the second-

mentioned instrument or to execute such a conveyance in favour of a third party; (Amended 14 of
2014 s. 9)

chargeable agreement for sale (可予徵收印花稅的買賣協議) means an agreement for sale chargeable with stamp
duty under head 1(1A) in the First Schedule;

Hong Kong permanent resident (香港永久性居民) means a person-
(a) who holds a valid permanent identity card; or
(b) who does not hold a valid permanent identity card but-

(i) is, under regulation 25(e) of the Registration of Persons Regulations (Cap 177 sub. leg. A), not
required to register or apply for the issue of an identity card or for the renewal of an identity card under
the Registration of Persons Ordinance (Cap 177) and those Regulations; and

(ii) is entitled to be issued with a permanent identity card if he or she makes an application to the
registration officer as defined by section 1A(1) of that Ordinance for that purpose; (Added 2 of 2014 s.
6)

mentally incapacitated person (精神上無行為能力的人) means a person who is mentally disordered or mentally
handicapped within the meaning of the Mental Health Ordinance (Cap 136) and is, because of his or her mental



Cap 117 - Stamp Duty Ordinance 27

state, incapable of managing and administering his or her property and affairs; (Added 2 of 2014 s. 6)
non-residential property (非住宅物業) means immovable property which, under the existing conditions of-

(a) a Government lease or an agreement for a Government lease;
(b) a deed of mutual covenant, within the meaning of section 2 of the Building Management Ordinance (Cap

344); (Amended 27 of 1993 s. 45)
(c) an occupation permit issued under section 21 of the Buildings Ordinance (Cap 123); or
(d) any other instrument which the Collector is satisfied effectively restricts the permitted user of the property,
may not be used, at any time during the term of the Government lease in respect of the property or during the
term of the Government lease that has been agreed for in respect of the property (as is appropriate), wholly or
partly for residential purposes; (Amended 12 of 1999 s. 3)

permanent identity card (永久性居民身分證) has the meaning given by section 1A(1) of the Registration of
Persons Ordinance (Cap 177); (Added 2 of 2014 s. 6)

purchaser (購買人) includes any person who, under an agreement for sale or an unwritten sale agreement,-
(a) contracts to purchase immovable property;
(b) acquires-

(i) immovable property;
(ii) an option or a right to purchase immovable property or a right of pre-emption in respect of immovable

property, other than a specified option or right;
(iii) a power or authority to sell or otherwise dispose of any interest in immovable property;
(iv) any right or benefit in respect of immovable property of a purchaser under an agreement for sale or an

unwritten sale agreement;
(v) a power to transfer any such right or benefit;
(vi) an authority to take a conveyance of immovable property that is subject to an agreement for sale or an

unwritten sale agreement; or
(c) is named as a person in whose favour another person is authorized to execute a conveyance of immovable

property;
residential property (住宅物業) means immovable property other than non-residential property;
specified option or right (指明的選擇權或權利) means an option or right to purchase, or a right of pre-emption,

conferred-
(a) by a lessor on a lessee;
(b) in a lease, or an agreement for a lease, for a fixed term of not less than 3 years; and
(c) in respect of the property subject to the lease,
and which is not exercisable within 3 years of the commencement of the lease or agreement for a lease,
otherwise than by giving notice to exercise the option or right which notice does not expire within those 3 years;

transferee (承讓人), in relation to a conveyance on sale (except as provided in section 29AO(5)(b) or 29DC(1)(b)
and (2)(b)), means the person to whom the property concerned is transferred, or in whom the property is vested,
under the conveyance; (Added 14 of 2014 s. 9)

transferor (轉讓人), in relation to a conveyance on sale (except as provided in section 29AO(5)(a) or 29DC(1)(b)
and (2)(b)), means the person from whom the property concerned is transferred or divested under the
conveyance; (Added 14 of 2014 s. 9)

unwritten sale agreement (非書面買賣協議) means a contract, agreement, or statement not in the form of an
instrument but of such a nature that, if it were in such a form, the instrument would constitute an agreement for
sale;

vendor (售賣人) includes any person who, under an agreement for sale or an unwritten sale agreement-
(a) contracts to sell immovable property;
(b) grants, confers, or transfers-

(i) immovable property;
(ii) an option or a right to purchase immovable property or a right of pre-emption in respect of immovable

property, other than a specified option or right;
(iii) a power or authority to sell or otherwise dispose of any interest in immovable property;
(iv) any right or benefit in respect of immovable property that he has as a purchaser under an agreement for

sale or an unwritten sale agreement;
(v) a power to transfer any such right or benefit;



Cap 117 - Stamp Duty Ordinance 28

(vi) an authority to take a conveyance of immovable property that is subject to an agreement for sale or an
unwritten sale agreement; or

(c) authorizes another person to execute in favour of a third party a conveyance of immovable property that is
subject to an agreement for sale or an unwritten sale agreement.

(2) An agreement for sale and an unwritten sale agreement may be enforceable or unenforceable, absolute or
conditional, formal or informal, temporary or permanent, provisional or non-provisional.

(3) An agreement for sale may consist of 2 or more instruments.
(3A) For the purposes of this Part and head 1(1A), (1B) and (1C) in the First Schedule, and subject to Note 5 to head

1(1A) in that Schedule, an agreement for sale, an unwritten sale agreement or a conveyance on sale is made
between the same parties as a previous agreement if, but only if- (Amended 14 of 2011 s. 6; 2 of 2014 s. 6)
(a) the names of both of the vendor and the purchaser or, where there is more than one vendor or more than one

purchaser or more than one vendor and more than one purchaser, all of them specified as such in the
previous agreement are the same as those in the agreement for sale, the unwritten sale agreement or the
conveyance on sale, as the case may be; and

(b) where there is more than one purchaser specified as such in the previous agreement, the property or interest
to be acquired by a person as one of the purchasers under the previous agreement is the same as that to be
acquired by that person under the agreement for sale, the unwritten sale agreement or the conveyance on
sale, as the case may be. (Added 33 of 1998 s. 8)

(4) For the purposes of this Part and head 1(1A), (1B) and (1C) in the First Schedule, an agreement for sale, an
unwritten sale agreement and a conveyance on sale are made on the same terms as a previous agreement if, but
only if, the agreement for sale, the unwritten sale agreement or the conveyance on sale (as the case may be) and
the previous agreement- (Amended 14 of 2011 s. 6; 2 of 2014 s. 6)
(a) are made in respect of the same immovable property; and
(b) specify the same consideration for the conveyance on sale.

(5) Head 1(1B) and (1C) in the First Schedule does not apply to an agreement for sale in respect of non-residential
property. (Amended 14 of 2011 s. 6; 2 of 2014 s. 6; 14 of 2014 s. 9)

(6) This Part and head 1(1A), (1B) and (1C) in the First Schedule apply notwithstanding any provision in any other
Part of this Ordinance. (Amended 14 of 2011 s. 6; 2 of 2014 s. 6)

(7) This Part and head 1(1A) in the First Schedule do not apply to an agreement for sale or an unwritten sale
agreement-
(a) made before; or
(b) that supersedes an agreement for sale or an unwritten sale agreement made between the same parties and on

the same terms before,
the commencement of the Stamp Duty (Amendment) Ordinance 1992 (8 of 1992).

(8) In this Part and section 71-
(a) a conveyance on sale is executed in conformity with an agreement for sale only if it is executed as provided

in section 29D(6)(c); and
(b) a conveyance on sale is executed in pursuance of an agreement for sale only if it is executed as provided in

section 29D(6)(d). (Added 14 of 2014 s. 9)

Section: 29AB Nominations or directions that are not agreements for sale 14 of 2014 23/02/2013


(1) A nomination or direction is excluded from paragraph (h) of the definition of agreement for sale in section
29A(1) if—
(a) it is made or given in favour of a person who is to be a trustee for the purchaser mentioned in paragraph (h)

of that definition in respect of the property concerned;
(b) in so far as it relates to head 1(1A) in the First Schedule—

(i) the property is residential property; and
(ii) it is shown to the satisfaction of the Collector that subsection (2) applies to the nomination or direction;

or
(c) in so far as it relates to head 1(1B) and (1C) in the First Schedule—

(i) the property is residential property; and
(ii) subsection (3) applies to the nomination or direction.

(2) This subsection applies to the nomination or direction if—



Cap 117 - Stamp Duty Ordinance 29

(a) it is made or given in favour of one, or more than one, person (whether or not also in favour of the
purchaser); and

(b) on the date of the nomination or direction—
(i) that person, or each of those persons, is closely related to the purchaser, or to each of the purchasers;
(ii) where there is more than one person, those persons are also closely related;
(iii) that person, or each of those persons, is acting on his or her own behalf; and
(iv) that person, or each of those persons, is not a beneficial owner of any other residential property in

Hong Kong.
(3) This subsection applies to the nomination or direction if—

(a) it is made or given in favour of one, or more than one, person (whether or not also in favour of the
purchaser);

(b) that person, or each of those persons, is closely related to the purchaser, or to each of the purchasers; and
(c) where there is more than one person, those persons are also closely related.

(Added 14 of 2014 s. 10)

Section: 29AC Meaning of beneficial owner of residential property 14 of 2014 23/02/2013


(1) For the purposes of this Part and head 1 in the First Schedule—
beneficial owner (實益擁有人), in relation to a residential property—

(a) includes a purchaser under an agreement for sale of the property that is subsisting; and
(b) excludes a vendor under an agreement for sale of the property that is subsisting.

(2) For subsection (1), an agreement for sale of a residential property is subsisting if—
(a) the agreement provides for the conveyance of the property but the conveyance is not yet executed; and
(b) the agreement is not one that is—

(i) cancelled, annulled or rescinded; or
(ii) otherwise not performed.

(3) For the purposes of this Part and head 1 in the First Schedule, a reference to a beneficial owner of a residential
property includes a beneficial owner of part of the property.

(Added 14 of 2014 s. 10)

Section: 29AD Meaning of closely related persons 14 of 2014 23/02/2013


For the purposes of this Part and head 1 in the First Schedule—
(a) 2 persons are closely related if one of them is the parent, spouse, child, brother or sister of the other; and
(b) 3 or more persons are closely related if each of them is a parent, spouse, child, brother or sister of each of

the others.
(Added 14 of 2014 s. 10)


Section: 29AE Dates of acquisition and disposal of immovable property:

general provisions
14 of 2014 23/02/2013



(1) For determining the stamp duty payable on an instrument under this Part (except sections 29CA and 29DA) and
head 1 (except sub-heads (1AA) and (1B)) in the First Schedule—
(a) the date a person acquires or disposes of immovable property is determined according to this section and

sections 29AF and 29AG;
(b) if a person acquires 2 or more immovable properties on the same date, a reference to the date of acquisition

by the person of one of those properties is a reference to the particular time at which that property is
acquired by the person on that date;

(c) if a person disposes of 2 or more immovable properties on the same date, a reference to the date of disposal
by the person of one of those properties is a reference to the particular time at which that property is
disposed of by the person on that date;

(d) if a person acquires an immovable property (subject property) and disposes of another immovable property
(original property) on the same date—



Cap 117 - Stamp Duty Ordinance 30

(i) a reference to the date of acquisition by the person of the subject property is a reference to the
particular time at which that property is acquired by the person on that date; and

(ii) a reference to the date of disposal by the person of the original property is a reference to the particular
time at which that property is disposed of by the person on that date; and

(e) a reference to the date of an instrument—
(i) is a reference to the date the instrument is executed; and
(ii) for paragraphs (b), (c) and (d), is a reference to the particular time at which the instrument is executed

on that date.
(2) The date of acquisition by a person of immovable property is as follows—

(a) subject to sections 29AF and 29AG—
(i) if there is an agreement for sale that provides for the conveyance of the property to the person—the

date of the agreement;
(ii) if more than one such agreement is made between the same parties and on the same terms in respect of

the property—the date of the first of those agreements; or
(iii) if the agreement consists of 2 or more instruments—the date of the first of those instruments; or

(b) in any other case—
(i) the date of the conveyance under which the property is transferred to or vested in the person; or
(ii) if the conveyance consists of 2 or more instruments—the date of the first of those instruments.

(3) The date of disposal by a person of immovable property is as follows—
(a) subject to sections 29AF and 29AG—

(i) if there is an agreement for sale that provides for the conveyance of the property from the person—the
date of the agreement;

(ii) if more than one such agreement is made between the same parties and on the same terms in respect of
the property—the date of the first of those agreements; or

(iii) if the agreement consists of 2 or more instruments—the date of the first of those instruments; or
(b) in any other case—

(i) the date of the conveyance under which the property is transferred or divested from the person; or
(ii) if the conveyance consists of 2 or more instruments—the date of the first of those instruments.

(Added 14 of 2014 s. 10)

Section: 29AF Dates of acquisition and disposal of immovable property:

conveyance on sale executed in pursuance of agreement for
sale

14 of 2014 23/02/2013



(1) Subsections (2), (3) and (4) apply if a conveyance on sale of immovable property—
(a) is executed in pursuance of an agreement for sale; and
(b) is in favour of—

(i) a purchaser under the agreement (original purchaser); and
(ii) another person who is not an original purchaser (additional transferee).

(2) The date of acquisition by the original purchaser of the property is as follows—
(a) the date of the agreement for sale mentioned in subsection (1); or
(b) if the agreement consists of 2 or more instruments—the date of the first of those instruments.

(3) The date of disposal by the original purchaser of the proportion of the property to be transferred to or vested in
the additional transferee is as follows—
(a) the date of the conveyance on sale mentioned in subsection (1); or
(b) if the conveyance consists of 2 or more instruments—the date of the first of those instruments.

(4) The date of acquisition by the additional transferee of that transferee’s proportion of the property is as follows

(a) the date of the conveyance on sale mentioned in subsection (1); or
(b) if the conveyance consists of 2 or more instruments—the date of the first of those instruments.

(5) Subsections (6), (7) and (8) apply if a conveyance on sale of immovable property—
(a) is executed in pursuance of an agreement for sale; and



Cap 117 - Stamp Duty Ordinance 31

(b) is in favour of one or some (but not all) of the purchasers under the agreement (original purchasers).
(6) For subsections (7) and (8), a person is a withdrawn purchaser if—

(a) the person is one of the original purchasers; and
(b) the conveyance concerned is not executed in favour of the person.

(7) The date of acquisition by a withdrawn purchaser of that purchaser’s proportion of the property is as follows—
(a) the date of the agreement for sale mentioned in subsection (5); or
(b) if the agreement consists of 2 or more instruments—the date of the first of those instruments.

(8) The date of disposal by a withdrawn purchaser of that purchaser’s proportion of the property is as follows—
(a) the date of the conveyance on sale mentioned in subsection (5); or
(b) if the conveyance consists of 2 or more instruments—the date of the first of those instruments.

(Added 14 of 2014 s. 10)

Section: 29AG Dates of acquisition and disposal of immovable property:

more than one agreement for sale involving same
immovable property

14 of 2014 23/02/2013



(1) Subsections (2), (3) and (4) apply if—
(a) an agreement for sale (original agreement) is made in respect of immovable property;
(b) another agreement for sale (second agreement) is made in respect of the whole or part of the property

(whether by the vendor or purchaser or both under the original agreement) before a conveyance on sale of
the property or that part of the property is executed in pursuance of the original agreement; and

(c) under the second agreement, the purchasers are—
(i) a purchaser under the original agreement (original purchaser); and
(ii) another person who is not an original purchaser (additional purchaser).

(2) The date of acquisition by the original purchaser of the property, or that part of the property, is as follows—
(a) the date of the original agreement; or
(b) if that agreement consists of 2 or more instruments—the date of the first of those instruments.

(3) The date of disposal by the original purchaser of the proportion of the property to be transferred to or vested in
the additional purchaser is as follows—
(a) the date of the second agreement; or
(b) if that agreement consists of 2 or more instruments—the date of the first of those instruments.

(4) The date of acquisition by the additional purchaser of that purchaser’s proportion of the property is as follows

(a) the date of the second agreement; or
(b) if that agreement consists of 2 or more instruments—the date of the first of those instruments.

(5) Subsections (6), (7) and (8) apply if—
(a) an agreement for sale (original agreement) is made in respect of immovable property;
(b) another agreement for sale (second agreement) is made in respect of the whole or part of the property

(whether by the vendor or purchaser or both under the original agreement) before a conveyance on sale of
the property or that part of the property is executed in pursuance of the original agreement; and

(c) one or some (but not all) of the purchasers under the original agreement (original purchasers) is or are the
purchaser or purchasers under the second agreement.

(6) For subsections (7) and (8), a person is a withdrawn purchaser if the person—
(a) is one of the original purchasers; but
(b) is not a purchaser under the second agreement.

(7) The date of acquisition by a withdrawn purchaser of that purchaser’s proportion of the property is as follows—
(a) the date of the original agreement; or
(b) if that agreement consists of 2 or more instruments—the date of the first of those instruments.

(8) The date of disposal by a withdrawn purchaser of that purchaser’s proportion of the property is as follows—
(a) the date of the second agreement; or
(b) if that agreement consists of 2 or more instruments—the date of the first of those instruments.

(Added 14 of 2014 s. 10)



Cap 117 - Stamp Duty Ordinance 32


Section: 29AH Instruments involving minors or mentally incapacitated

persons
14 of 2014 23/02/2013



For determining the stamp duty payable on an instrument under this Part (except sections 29CA, 29CB, 29DA and
29DB) and head 1 (except sub-heads (1AA), (1AAB), (1B) and (1C)) in the First Schedule, if it is shown to the
satisfaction of the Collector that—

(a) a party to the instrument is acting in the transaction as a trustee or guardian for another person; and
(b) the other person is a Hong Kong permanent resident who is a minor or mentally incapacitated person,

the Collector must treat the other person as a party to the instrument in place of the trustee or guardian.
(Added 14 of 2014 s. 10)


Part:
Division:

IIIA
2

Conveyances on Sale: General Provisions 14 of 2014 23/02/2013



(Division 2 added 14 of 2014 s. 11)

Section: 29AI Conveyances on sale generally chargeable with ad valorem

stamp duty at Scale 1 rates
14 of 2014 23/02/2013



Expanded Cross Reference:

29AJ, 29AK, 29AL, 29AM, 29AN, 29AO, 29AP, 29AQ, 29AR



Except as provided in sections 29AS and 29AJ to 29AR and Notes 1B and 1C to head 1(1) in the First Schedule, a
conveyance on sale is chargeable with stamp duty under Scale 1 of head 1(1) in the First Schedule.

Section: 29AJ Certain conveyances on sale of residential property to

Hong Kong permanent residents chargeable with ad
valorem stamp duty at Scale 2 rates

14 of 2014 23/02/2013



(1) A conveyance on sale is chargeable with stamp duty under Scale 2 of head 1(1) in the First Schedule if—
(a) the property concerned is residential property; and
(b) it is shown to the satisfaction of the Collector that subsection (2) or (3) applies to the conveyance.

(2) This subsection applies to the conveyance if, on the date of acquisition of the property—
(a) the transferee, or each of the transferees, under the conveyance is a Hong Kong permanent resident acting

on his or her own behalf; and
(b) that transferee, or each of those transferees, is not a beneficial owner of any other residential property in

Hong Kong.
(3) This subsection applies to the conveyance if, on the date of acquisition of the property—

(a) the transferees under the conveyance consist of—
(i) one, or more than one, person who is a Hong Kong permanent resident; and
(ii) one, or more than one, person who is not a Hong Kong permanent resident;

(b) those transferees are closely related;
(c) each of them is acting on his or her own behalf; and
(d) each of them is not a beneficial owner of any other residential property in Hong Kong.






Cap 117 - Stamp Duty Ordinance 33

Section: 29AK Certain conveyances on sale of residential property
together with car parking space to Hong Kong permanent
residents chargeable with ad valorem stamp duty at Scale
2 rates

14 of 2014 23/02/2013



(1) A conveyance on sale is chargeable with stamp duty under Scale 2 of head 1(1) in the First Schedule if—
(a) the properties concerned are residential property and a car parking space permitted for the parking of 1

motor vehicle; and
(b) it is shown to the satisfaction of the Collector that subsection (2) applies to the conveyance.

(2) This subsection applies to the conveyance if, on the date of acquisition of the properties—
(a) the transferee, or each of the transferees, under the conveyance is a Hong Kong permanent resident acting

on his or her own behalf; and
(b) that transferee, or each of those transferees, is neither a beneficial owner of any other residential property,

nor a beneficial owner of any other car parking space, in Hong Kong.
(3) For subsection (1)(a), a car parking space is permitted for the parking of 1 motor vehicle unless any of the

following provides that the parking space may be used, at any time during the term of the Government lease in
respect of the parking space or during the term of the Government lease that has been agreed for in respect of the
parking space (as is appropriate), for the parking of more than 1 motor vehicle—
(a) a Government lease or an agreement for a Government lease;
(b) a deed of mutual covenant, within the meaning of section 2 of the Building Management Ordinance (Cap

344);
(c) an occupation permit issued under section 21 of the Buildings Ordinance (Cap 123);
(d) any other instrument which the Collector is satisfied effectively restricts the permitted user of the parking

space.

Section: 29AL Certain conveyances on sale of residential property

between closely related persons chargeable with ad
valorem stamp duty at Scale 2 rates

14 of 2014 23/02/2013



(1) A conveyance on sale is chargeable with stamp duty under Scale 2 of head 1(1) in the First Schedule if—
(a) the property concerned is residential property; and
(b) it is shown to the satisfaction of the Collector that subsection (2) applies to the conveyance.

(2) This subsection applies to the conveyance if, on the date of acquisition of the property—
(a) the transferee, or each of the transferees, under the conveyance is closely related to the transferor, or to each

of the transferors, under the conveyance;
(b) where there is more than one transferee under the conveyance, the transferees are also closely related; and
(c) that transferee, or each of those transferees, is acting on his or her own behalf.

(3) For the purpose of subsection (2)(a), if a transferor is acting in the transaction as a trustee for another person,
that other person is treated as the transferor in place of the trustee.


Section: 29AM Conveyances on sale of property for replacing other

property disposed of under certain Ordinances chargeable
with ad valorem stamp duty at Scale 2 rates

14 of 2014 23/02/2013



(1) A conveyance on sale is chargeable with stamp duty under Scale 2 of head 1(1) in the First Schedule if it is
shown to the satisfaction of the Collector that—
(a) the transferee under the conveyance is acting on the transferee’s own behalf;
(b) the property concerned (replacement property) is acquired by the transferee to replace another property

(original property);
(c) the original property—

(i) was owned by the transferee alone or jointly with any other person or persons; and
(ii) falls within subsection (2); and

(d) subsection (3) applies to the replacement property.



Cap 117 - Stamp Duty Ordinance 34

(2) The original property falls within this subsection if it has been—
(a) purchased or otherwise acquired by the Urban Renewal Authority for the purposes of any of its projects as

defined by section 2 of the Urban Renewal Authority Ordinance (Cap 563);
(b) resumed under an order made under section 3 of the Lands Resumption Ordinance (Cap 124) or purchased

by agreement under section 4A of that Ordinance;
(c) sold pursuant to an order for sale made by the Lands Tribunal under section 4(1)(b)(i) of the Land

(Compulsory Sale for Redevelopment) Ordinance (Cap 545);
(d) resumed under an order made under section 4(1) of the Mass Transit Railway (Land Resumption and

Related Provisions) Ordinance (Cap 276);
(e) resumed under an order made under section 13(1) of the Roads (Works, Use and Compensation) Ordinance

(Cap 370);
(f) resumed under an order made under section 16 or 28(1) of the Railways Ordinance (Cap 519);
(g) acquired under an acquisition order made under section 3(1) or (2) of the Land Acquisition (Possessory

Title) Ordinance (Cap 130); or
(h) resumed under an order made under section 37(2) of the Land Drainage Ordinance (Cap 446).

(3) This subsection applies to the replacement property if—
(a) the date of disposal of the original property under subsection (2) is earlier than the date of acquisition by the

transferee of the replacement property; and
(b) the original property and the replacement property are both residential properties, or both non-residential

properties.
(4) Subsection (1) does not apply to a conveyance on sale under which a replacement property is acquired by a

transferee to replace an original property if—
(a) the transferee has acquired another replacement property to replace the original property under another

instrument; and
(b) stamp duty has been charged on that other instrument according to Scale 2 of head 1(1), or Scale 2 of head

1(1A), in the First Schedule because of the operation of subsection (1) or section 29BE(1).
(5) If an original property was owned by more than one person, subsection (1) applies to each owner in relation to 1

replacement property acquired by the owner, regardless of whether or not the replacement property is acquired—
(a) by the owner alone; or
(b) by the owner jointly with—

(i) another owner of the original property; or
(ii) any other person.


Section: 29AN Other conveyances on sale chargeable with ad valorem

stamp duty at Scale 2 rates
14 of 2014 23/02/2013



A conveyance on sale is chargeable with stamp duty under Scale 2 of head 1(1) in the First Schedule if it is shown to
the satisfaction of the Collector that—

(a) the conveyance is made pursuant to a decree or order of any court;
(b) the conveyance is a decree or order of any court by which the property concerned is transferred to or vested

in the transferee; or
(c) under the conveyance, a mortgaged property is transferred to, or vested in, its mortgagee that is a financial

institution within the meaning of section 2 of the Inland Revenue Ordinance (Cap 112), or a receiver
appointed by the mortgagee.


Section: 29AO Certain instruments effecting exchange between residential

property and non-residential property chargeable with ad
valorem stamp duty at Scale 2 rates

14 of 2014 23/02/2013



(1) An instrument falls within this subsection if—
(a) the instrument effects the exchange of a residential property for a non-residential property; and
(b) consideration is paid or given by the transferee for equality.

(2) An instrument that falls within subsection (1) is chargeable with stamp duty as a conveyance on sale under Scale
2 of head 1(1) in the First Schedule by reference to the consideration mentioned in subsection (1) if it is shown



Cap 117 - Stamp Duty Ordinance 35

to the satisfaction of the Collector that subsection (3) or (4) applies to the instrument.
(3) This subsection applies to the instrument if, on the date of the instrument—

(a) the transferee, or each of the transferees, under the instrument is a Hong Kong permanent resident acting on
his or her own behalf; and

(b) that transferee, or each of those transferees, is not a beneficial owner of any other residential property in
Hong Kong.

(4) This subsection applies to the instrument if, on the date of the instrument—
(a) the transferee, or each of the transferees, under the instrument is closely related to the transferor, or to each

of the transferors, under the instrument;
(b) where there is more than one transferee under the instrument, the transferees are also closely related; and
(c) that transferee, or each of those transferees, is acting on his or her own behalf.

(5) For the purposes of this section, if a person transfers a residential property to another person under an instrument
that falls within subsection (1)—
(a) the former is the transferor under the instrument; and
(b) the latter is the transferee under the instrument.


Section: 29AP Certain instruments effecting exchange between residential

properties chargeable with ad valorem stamp duty at Scale
2 rates

14 of 2014 23/02/2013



(1) An instrument falls within this subsection if—
(a) the instrument effects the exchange of a residential property for another residential property; and
(b) consideration is paid or given for equality.

(2) An instrument that falls within subsection (1) is chargeable with stamp duty as a conveyance on sale under Scale
2 of head 1(1) in the First Schedule by reference to the consideration mentioned in subsection (1) if it is shown
to the satisfaction of the Collector that subsection (3) or (4) applies to the instrument.

(3) This subsection applies to the instrument if, on the date of the instrument—
(a) each party to the instrument is a Hong Kong permanent resident acting on his or her own behalf; and
(b) each of them is not a beneficial owner of any other residential property in Hong Kong.

(4) This subsection applies to the instrument if, on the date of the instrument—
(a) all parties to the instrument are closely related; and
(b) each of them is acting on his or her own behalf.


Section: 29AQ Certain conveyances on sale of residential property

involving additional closely related persons chargeable
with ad valorem stamp duty at Scale 2 rates

14 of 2014 23/02/2013



(1) Except as provided in section 29D(6)(c)(ii) and (7), this section applies to a conveyance on sale if—
(a) the property concerned is residential property;
(b) the conveyance is executed in pursuance of an agreement for sale; and
(c) the conveyance is in favour of—

(i) a purchaser under the agreement (original purchaser); and
(ii) another person who falls within subsection (2).

(2) A person falls within this subsection if the person—
(a) is not an original purchaser; and
(b) is, on the date of the conveyance, closely related to the original purchaser.

(3) If the agreement for sale is duly stamped, or stamped under section 5(1), 13(2) or 18E(1) (whether before or
after the execution of the conveyance on sale), the conveyance is chargeable with stamp duty under Scale 2 of
head 1(1) in the First Schedule by reference to the consideration for the conveyance, less a fraction of the stamp
duty representing the proportion of the property that is vested in the original purchaser under the conveyance.

(4) For the purposes of subsection (3), joint tenants are treated as having equal undivided shares in the property
concerned.

(5) If the agreement for sale is not duly stamped, or not stamped under section 5(1), 13(2) or 18E(1), the Collector



Cap 117 - Stamp Duty Ordinance 36

may refuse to stamp the conveyance.

Section: 29AR Certain conveyances on sale of residential property

involving withdrawal of closely related persons chargeable
with ad valorem stamp duty at Scale 2 rates

14 of 2014 23/02/2013



(1) Except as provided in section 29D(6)(c)(ii) and (7), this section applies to a conveyance on sale if—
(a) the property concerned is residential property;
(b) the conveyance is executed in pursuance of an agreement for sale;
(c) the conveyance is in favour of one or some (but not all) of the purchasers under the agreement; and
(d) on the date of the conveyance, the transferee, or each of the transferees, is closely related to the withdrawn

purchaser, or to each of the withdrawn purchasers.
(2) If the agreement for sale is duly stamped, or stamped under section 5(1), 13(2) or 18E(1) (whether before or

after the execution of the conveyance on sale), the conveyance is chargeable with stamp duty under Scale 2 of
head 1(1) in the First Schedule by reference to the consideration for the conveyance, less a fraction of the stamp
duty representing the proportion of the property that was acquired by the transferee or transferees under the
agreement.

(3) For the purposes of subsection (2), an agreement that provides for a conveyance to purchasers as joint tenants is
treated as an agreement to convey the property to those purchasers in equal undivided shares.

(4) If the agreement for sale is not duly stamped, or not stamped under section 5(1), 13(2) or 18E(1), the Collector
may refuse to stamp the conveyance.

(5) In this section—
(a) a person is a transferee if—

(i) the person is one of the purchasers under the agreement; and
(ii) the conveyance is executed in favour of the person; and

(b) a person is a withdrawn purchaser if—
(i) the person is one of the purchasers under the agreement; and
(ii) the conveyance is not executed in favour of the person.


Section: 29AS Certain conveyances on sale of residential property related

to Public Rental Housing Flats under Tenants Purchase
Scheme to tenants or authorized occupants chargeable
with ad valorem stamp duty at Scale 2 rates

14 of 2014 23/02/2013



(1) A conveyance on sale is chargeable with stamp duty under Scale 2 of head 1(1) in the First Schedule if—
(a) the property concerned is residential property;
(b) the acquisition of the property is made under the Tenants Purchase Scheme of the Housing Authority; and
(c) it is shown to the satisfaction of the Collector that subsection (2) applies to the conveyance.

(2) This subsection applies to the conveyance if, on the date of acquisition of the property—
(a) the transferee, or each of the transferees, under the conveyance is a tenant or an authorized occupant of the

Housing Authority in respect of the property acting on his or her own behalf; and
(b) that transferee, or each of those transferees, is not a beneficial owner of any other residential property in

Hong Kong.

Part:
Division:

IIIA
3

Agreements for Sale 14 of 2014 23/02/2013



(Added 14 of 2014 s. 12)

Section: 29B Duty to execute agreement for sale E.R. 2 of 2014 10/04/2014


(1) Each purchaser and vendor under an unwritten sale agreement or an agreement for sale shall, not later than 30
days after the relevant date, if he has not already done so, execute an agreement for sale containing the matters
specified in subsection (5).



Cap 117 - Stamp Duty Ordinance 37

(2) Subsection (1) does not apply to a purchaser who, on the relevant date, does not know that the unwritten sale
agreement or agreement for sale affects him.

(3) For the purposes of subsections (1) and (2), the relevant date means-
(a) in the case of an unwritten sale agreement, the date on which that agreement was made;
(b) in the case of an agreement for sale not preceded by an unwritten sale agreement, or an agreement for sale,

made between the same parties and on the same terms, the date on which that agreement was made; and
(c) in the case of an agreement for sale preceded by one or more than one unwritten sale agreement, or

agreement for sale, made between the same parties and on the same terms, the date on which the first of
such agreements was made; and

(4) If a person enters into an agreement for sale or an unwritten sale agreement as agent for a vendor or purchaser,
the agent and the vendor or purchaser (as the case may be) are jointly and severally liable to comply with
subsection (1).

(5) The following matters are specified for the purposes of subsection (1)-
(a) the name and address of the vendor and of the purchaser of the immovable property;
(b) if the vendor or purchaser is an individual, his identification number;
(c) if the vendor or purchaser is not an individual but is registered under the Business Registration Ordinance

(Cap 310), the business registration number of the vendor or purchaser;
(d) the description and location of the immovable property;
(e) a statement as to whether the immovable property is residential property or non-residential property, within

the meanings of section 29A(1);
(f) the date on which the agreement for sale was made;
(g) if the agreement for sale was preceded by an unwritten sale agreement, or an agreement for sale, made

between the same parties and on the same terms, the date on which the first such agreement was made;
(h) a statement as to whether or not a date has been agreed for a conveyance on sale pursuant to the agreement

for sale and, if so, that date;
(i) a statement as to whether or not there is an agreed consideration for the conveyance on sale that is to, or

may, take place pursuant to the agreement for sale and, if so, the amount or value of the consideration;
(j) the amount or value of any other consideration which each person executing the document knows has been

paid or given, or has been agreed to be paid or given, to any person for or in connection with the agreement
for sale or any conveyance on sale pursuant to that agreement (excluding legal expenses), together with the
name, address, and the identification number or business registration number of each person receiving or to
receive such consideration, and a description of the benefit to which the consideration relates;

(k) if the purchaser has not executed the agreement, a statement as to whether or not, to the best of the
knowledge of each person executing the agreement, the purchaser knew, at the time the agreement was
made, that it affected him.

(6) Any person required to execute an agreement for sale in accordance with subsection (1) who fails to do so is
liable civilly to the Collector for the payment of any stamp duty that the person would have been liable to pay
under this Ordinance had that agreement (which is deemed for the purposes of this subsection to be a chargeable
agreement for sale) been executed and any penalty payable under section 9; and if 2 or more persons fail to
execute such an agreement each person is jointly and severally so liable. (Amended 2 of 2014 s. 7)

(7) Any person liable, under subsection (6), to pay stamp duty chargeable on an agreement for sale may set off the
amount (if any) of that stamp duty paid by him against any stamp duty payable by him in respect of a
conveyance on sale made in pursuance of that agreement. (Amended 14 of 2014 s. 13)

(8) No action shall be brought by virtue of subsection (6) for the recovery of any stamp duty with respect to any
instrument more than 6 years from the expiration of the time for stamping that instrument.

(9) Any person who with intent to defraud the Government fails to comply with subsection (1) commits an offence,
but the Collector may, before the commencement of criminal proceedings, compound any such offence.

(10) A failure by any person to comply with subsection (1) does not affect the validity or enforceability of an
agreement for sale or unwritten sale agreement.

(11) In this section, identification number (身分證件號碼) in relation to a person means-
(a) the number of any identity card issued to him under the Registration of Persons Ordinance (Cap 177);
(b) if no such card has been issued to him, the number of any travel document, certificate of identity, or

document of identity (within the meanings of section 2(1) of the Immigration Ordinance (Cap 115)) issued
to him;

(c) if no such document or certificate has been issued to him, the number of any other document that



Cap 117 - Stamp Duty Ordinance 38

establishes his identity to the satisfaction of the Collector,
but no such number is complete unless the relevant document is described.


Section: 29BA Agreements for sale generally chargeable with ad valorem

stamp duty at Scale 1 rates
14 of 2014 23/02/2013



Expanded Cross Reference:

29BB, 29BC, 29BD, 29BE, 29BF, 29BG, 29BH, 29BI, 29BJ



Except as provided in sections 29BK and 29BB to 29BJ and Note 1A to head 1(1A) in the First Schedule, an
agreement for sale is chargeable with stamp duty under Scale 1 of head 1(1A) in the First Schedule.

(Added 14 of 2014 s. 14)

Section: 29BB Certain agreements for sale of residential property to

Hong Kong permanent residents chargeable with ad
valorem stamp duty at Scale 2 rates

14 of 2014 23/02/2013



(1) An agreement for sale is chargeable with stamp duty under Scale 2 of head 1(1A) in the First Schedule if—
(a) the property concerned is residential property; and
(b) it is shown to the satisfaction of the Collector that subsection (2) or (3) applies to the agreement.

(2) This subsection applies to the agreement if, on the date of acquisition of the property—
(a) the purchaser, or each of the purchasers, under the agreement is a Hong Kong permanent resident acting on

his or her own behalf; and
(b) that purchaser, or each of those purchasers, is not a beneficial owner of any other residential property in

Hong Kong.
(3) This subsection applies to the agreement if, on the date of acquisition of the property—

(a) the purchasers under the agreement consist of—
(i) one, or more than one, person who is a Hong Kong permanent resident; and
(ii) one, or more than one, person who is not a Hong Kong permanent resident;

(b) those purchasers are closely related;
(c) each of them is acting on his or her own behalf; and
(d) each of them is not a beneficial owner of any other residential property in Hong Kong.

(Added 14 of 2014 s. 14)

Section: 29BC Certain agreements for sale of residential property

together with car parking space to Hong Kong permanent
residents chargeable with ad valorem stamp duty at Scale
2 rates

14 of 2014 23/02/2013



(1) An agreement for sale is chargeable with stamp duty under Scale 2 of head 1(1A) in the First Schedule if—
(a) the properties concerned are residential property and a car parking space permitted for the parking of 1

motor vehicle; and
(b) it is shown to the satisfaction of the Collector that subsection (2) applies to the agreement.

(2) This subsection applies to the agreement if, on the date of acquisition of the properties—
(a) the purchaser, or each of the purchasers, under the agreement is a Hong Kong permanent resident acting on

his or her own behalf; and
(b) that purchaser, or each of those purchasers, is neither a beneficial owner of any other residential property,

nor a beneficial owner of any other car parking space, in Hong Kong.
(3) For subsection (1)(a), a car parking space is permitted for the parking of 1 motor vehicle unless any of the

following provides that the parking space may be used, at any time during the term of the Government lease in
respect of the parking space or during the term of the Government lease that has been agreed for in respect of the
parking space (as is appropriate), for the parking of more than 1 motor vehicle—
(a) a Government lease or an agreement for a Government lease;



Cap 117 - Stamp Duty Ordinance 39

(b) a deed of mutual covenant, within the meaning of section 2 of the Building Management Ordinance (Cap
344);

(c) an occupation permit issued under section 21 of the Buildings Ordinance (Cap 123);
(d) any other instrument which the Collector is satisfied effectively restricts the permitted user of the parking

space.
(Added 14 of 2014 s. 14)


Section: 29BD Certain agreements for sale of residential property

between closely related persons chargeable with ad
valorem stamp duty at Scale 2 rates

14 of 2014 23/02/2013



(1) An agreement for sale is chargeable with stamp duty under Scale 2 of head 1(1A) in the First Schedule if—
(a) the property concerned is residential property; and
(b) it is shown to the satisfaction of the Collector that subsection (2) or (4) applies to the agreement.

(2) This subsection applies to the agreement if, on the date of acquisition of the property—
(a) the purchaser, or each of the purchasers, under the agreement is closely related to the vendor, or to each of

the vendors, under the agreement;
(b) where there is more than one purchaser under the agreement, the purchasers are also closely related; and
(c) that purchaser, or each of those purchasers, is acting on his or her own behalf.

(3) For the purpose of subsection (2)(a), if a vendor is acting in the transaction as a trustee for another person, that
other person is treated as the vendor in place of the trustee.

(4) This subsection applies to the agreement if—
(a) the agreement is an instrument in which a purchaser under another agreement for sale of the property

concerned (original agreement) makes a nomination, or gives a direction;
(b) that nomination or direction authorizes another person to execute a conveyance of that property in favour of

one, or more than one, third party (whether or not also in favour of the purchaser); and
(c) on the date of that nomination or direction—

(i) the third party, or each of those parties, is closely related to the purchaser, or to each of the purchasers;
(ii) where there is more than one purchaser under the original agreement, the purchasers are also closely

related; and
(iii) the third party, or each of those parties, is acting on his or her own behalf.

(Added 14 of 2014 s. 14)

Section: 29BE Agreements for sale of property for replacing other

property disposed of under certain Ordinances chargeable
with ad valorem stamp duty at Scale 2 rates

14 of 2014 23/02/2013



(1) An agreement for sale is chargeable with stamp duty under Scale 2 of head 1(1A) in the First Schedule if it is
shown to the satisfaction of the Collector that—
(a) the purchaser under the agreement is acting on the purchaser’s own behalf;
(b) the property concerned (replacement property) is acquired by the purchaser to replace another property

(original property);
(c) the original property—

(i) was owned by the purchaser alone or jointly with any other person or persons; and
(ii) falls within subsection (2); and

(d) subsection (3) applies to the replacement property.
(2) The original property falls within this subsection if it has been—

(a) purchased or otherwise acquired by the Urban Renewal Authority for the purposes of any of its projects as
defined by section 2 of the Urban Renewal Authority Ordinance (Cap 563);

(b) resumed under an order made under section 3 of the Lands Resumption Ordinance (Cap 124) or purchased
by agreement under section 4A of that Ordinance;

(c) sold pursuant to an order for sale made by the Lands Tribunal under section 4(1)(b)(i) of the Land
(Compulsory Sale for Redevelopment) Ordinance (Cap 545);

(d) resumed under an order made under section 4(1) of the Mass Transit Railway (Land Resumption and



Cap 117 - Stamp Duty Ordinance 40

Related Provisions) Ordinance (Cap 276);
(e) resumed under an order made under section 13(1) of the Roads (Works, Use and Compensation) Ordinance

(Cap 370);
(f) resumed under an order made under section 16 or 28(1) of the Railways Ordinance (Cap 519);
(g) acquired under an acquisition order made under section 3(1) or (2) of the Land Acquisition (Possessory

Title) Ordinance (Cap 130); or
(h) resumed under an order made under section 37(2) of the Land Drainage Ordinance (Cap 446).

(3) This subsection applies to the replacement property if—
(a) the date of disposal of the original property under subsection (2) is earlier than the date of acquisition by the

purchaser of the replacement property; and
(b) the original property and the replacement property are both residential properties, or both non-residential

properties.
(4) Subsection (1) does not apply to an agreement for sale under which a replacement property is acquired by a

purchaser to replace an original property if—
(a) the purchaser has acquired another replacement property to replace the original property under another

instrument; and
(b) stamp duty has been charged on that other instrument according to Scale 2 of head 1(1), or Scale 2 of head

1(1A), in the First Schedule because of the operation of subsection (1) or section 29AM(1).
(5) If an original property was owned by more than one person, subsection (1) applies to each owner in relation to 1

replacement property acquired by the owner, regardless of whether or not the replacement property is acquired—
(a) by the owner alone; or
(b) by the owner jointly with—

(i) another owner of the original property; or
(ii) any other person.

(Added 14 of 2014 s. 14)

Section: 29BF Agreements for sale made pursuant to court orders

chargeable with ad valorem stamp duty at Scale 2 rates
14 of 2014 23/02/2013



An agreement for sale is chargeable with stamp duty under Scale 2 of head 1(1A) in the First Schedule if it is shown to
the satisfaction of the Collector that the agreement is made pursuant to a decree or order of any court.

(Added 14 of 2014 s. 14)

Section: 29BG Certain agreements for exchange between residential

property and non-residential property chargeable with ad
valorem stamp duty at Scale 2 rates

14 of 2014 23/02/2013



(1) An agreement falls within this subsection if—
(a) the agreement provides for the exchange of a residential property for a non-residential property; and
(b) consideration is paid or given, or agreed to be paid or given, by the purchaser under the agreement for

equality.
(2) An agreement that falls within subsection (1) is chargeable with stamp duty as an agreement for sale under Scale

2 of head 1(1A) in the First Schedule by reference to the consideration mentioned in subsection (1) if it is shown
to the satisfaction of the Collector that subsection (3) or (4) applies to the agreement.

(3) This subsection applies to the agreement if, on the date of the agreement—
(a) the purchaser, or each of the purchasers, under the agreement is a Hong Kong permanent resident acting on

his or her own behalf; and
(b) that purchaser, or each of those purchasers, is not a beneficial owner of any other residential property in

Hong Kong.
(4) This subsection applies to the agreement if, on the date of the agreement—

(a) the purchaser, or each of the purchasers, under the agreement is closely related to the vendor, or to each of
the vendors, under the agreement;

(b) where there is more than one purchaser under the agreement, the purchasers are also closely related; and
(c) that purchaser, or each of those purchasers, is acting on his or her own behalf.



Cap 117 - Stamp Duty Ordinance 41

(5) For the purposes of this section, if an agreement that falls within subsection (1) provides that a person is to
transfer a residential property to another person—
(a) the former is the vendor under the agreement; and
(b) the latter is the purchaser under the agreement.

(Added 14 of 2014 s. 14)

Section: 29BH Certain agreements for exchange between residential

properties chargeable with ad valorem stamp duty at Scale
2 rates

14 of 2014 23/02/2013



(1) An agreement falls within this subsection if—
(a) the agreement provides for the exchange of a residential property for another residential property; and
(b) consideration is paid or given, or agreed to be paid or given, for equality.

(2) An agreement that falls within subsection (1) is chargeable with stamp duty as an agreement for sale under Scale
2 of head 1(1A) in the First Schedule by reference to the consideration mentioned in subsection (1) if it is shown
to the satisfaction of the Collector that subsection (3) or (4) applies to the agreement.

(3) This subsection applies to the agreement if, on the date of the agreement—
(a) each party to the agreement is a Hong Kong permanent resident acting on his or her own behalf; and
(b) each of them is not a beneficial owner of any other residential property in Hong Kong.

(4) This subsection applies to the agreement if, on the date of the agreement—
(a) all parties to the agreement are closely related; and
(b) each of them is acting on his or her own behalf.

(Added 14 of 2014 s. 14)

Section: 29BI Certain agreements for sale of residential property

involving additional closely related persons chargeable
with ad valorem stamp duty at Scale 2 rates

14 of 2014 23/02/2013



(1) Except as provided in Note 5 to head 1(1A) in the First Schedule, this section applies if—
(a) an agreement for sale (original agreement) is made in respect of residential property;
(b) another agreement for sale (second agreement) is made in respect of the whole or part of the property

(whether by the vendor or purchaser or both under the original agreement) before a conveyance on sale of
the property or that part of the property is executed in pursuance of the original agreement; and

(c) under the second agreement, the purchasers are—
(i) a purchaser under the original agreement (original purchaser); and
(ii) another person who falls within subsection (2).

(2) A person falls within this subsection if the person—
(a) is not an original purchaser; and
(b) is, on the date of the second agreement, closely related to the original purchaser.

(3) If the original agreement is duly stamped, or stamped under section 5(1), 13(2) or 18E(1) (whether before or
after the second agreement is made), the second agreement is chargeable with stamp duty under Scale 2 of head
1(1A) in the First Schedule by reference to the consideration for the second agreement, less a fraction of the
stamp duty representing the proportion of the property that is acquired by the original purchaser under the
second agreement.

(4) For the purposes of subsection (3), joint tenants are treated as having equal undivided shares in the property
concerned.

(5) If the original agreement is not duly stamped, or not stamped under section 5(1), 13(2) or 18E(1), the Collector
may refuse to stamp the second agreement.

(Added 14 of 2014 s. 14)




Cap 117 - Stamp Duty Ordinance 42

Section: 29BJ Certain agreements for sale of residential property
involving withdrawal of closely related persons chargeable
with ad valorem stamp duty at Scale 2 rates

14 of 2014 23/02/2013



(1) Except as provided in Note 5 to head 1(1A) in the First Schedule, this section applies if—
(a) an agreement for sale (original agreement) is made in respect of residential property;
(b) another agreement for sale (second agreement) is made in respect of the whole or part of the property

(whether by the vendor or purchaser or both under the original agreement) before a conveyance on sale of
the property or that part of the property is executed in pursuance of the original agreement;

(c) one or some (but not all) of the purchasers under the original agreement (original purchasers) is or are the
purchaser or purchasers under the second agreement (remaining purchaser or purchasers); and

(d) on the date of the second agreement, the remaining purchaser, or each of the remaining purchasers, is
closely related to the withdrawn purchaser, or to each of the withdrawn purchasers.

(2) If the original agreement is duly stamped, or stamped under section 5(1), 13(2) or 18E(1) (whether before or
after the second agreement is made), the second agreement is chargeable with stamp duty under Scale 2 of head
1(1A) in the First Schedule by reference to the consideration for the second agreement, less a fraction of the
stamp duty representing the proportion of the property that was acquired by the remaining purchaser or
purchasers under the original agreement.

(3) For the purposes of subsection (2), an agreement that provides for a conveyance to purchasers as joint tenants is
treated as an agreement to convey the property to those purchasers in equal undivided shares.

(4) If the original agreement is not duly stamped, or not stamped under section 5(1), 13(2) or 18E(1), the Collector
may refuse to stamp the second agreement.

(5) In this section, a withdrawn purchaser is a person who—
(a) is one of the original purchasers; but
(b) is not a remaining purchaser.

(Added 14 of 2014 s. 14)

Section: 29BK Certain agreements for sale of residential property related

to Public Rental Housing Flats under Tenants Purchase
Scheme to tenants or authorized occupants chargeable
with ad valorem stamp duty at Scale 2 rates

14 of 2014 23/02/2013



(1) An agreement for sale is chargeable with stamp duty under Scale 2 of head 1(1A) in the First Schedule if—
(a) the property concerned is residential property;
(b) the acquisition of the property is made under the Tenants Purchase Scheme of the Housing Authority; and
(c) it is shown to the satisfaction of the Collector that subsection (2) applies to the agreement.

(2) This subsection applies to the agreement if, on the date of acquisition of the property—
(a) the purchaser, or each of the purchasers, under the agreement is a tenant or an authorized occupant of the

Housing Authority in respect of the property acting on his or her own behalf; and
(b) that purchaser, or each of those purchasers, is not a beneficial owner of any other residential property in

Hong Kong.
(Added 14 of 2014 s. 14)


Section: 29C General provisions on chargeable agreements for sale# L.N. 150 of 2014 06/02/2015


Remarks:
The various amendments made by L.N. 90 of 1999 and Ord. No. 44 of 1999 to this section shall only apply to an
agreement for sale, or an unwritten sale agreement, as defined in section 29A(1), if the relevant date within the
meaning of section 29B(3) is, in so far as such agreement for sale or unwritten sale agreement (as the case may be) is
concerned, on or after 1 April 1999.

(1) (Repealed L.N. 90 of 1999 and 44 of 1999 s. 19)
(2) A chargeable agreement for sale is chargeable with stamp duty even if-

(a) it does not contain the matters specified in section 29B(5); or



Cap 117 - Stamp Duty Ordinance 43

(b) it has not been executed by all persons who are required by section 29B(1) to execute it,
or both, but the Collector may refuse to stamp the agreement. (Replaced 14 of 2011 s. 7)

(3) For the avoidance of doubt, it is hereby declared that if-
(a) a chargeable agreement for sale is made in respect of immovable property; and
(b) another chargeable agreement for sale is made in respect of all or any part of the property (whether by the

vendor or purchaser under the first-mentioned agreement, or both) before a conveyance on sale of the
property or that part of the property is made in pursuance of the first-mentioned agreement,

then (subject to the notes to head 1(1A), (1B) and (1C) in the First Schedule and to section 29F) each agreement
is chargeable with stamp duty. (Amended 14 of 2011 s. 7; 2 of 2014 s. 8)

(4) The principle in subsection (3) applies, with necessary modifications, if there is a series of more than 2
chargeable agreements for sale in respect of the same, or any part of the same, immovable property; for
example-
(a) if a purchaser under a chargeable agreement for sale makes a chargeable agreement for a sub-sale, and the

sub-purchaser makes a further chargeable agreement for a sub-sale; or
(b) if a chargeable agreement for sale is cancelled and replaced by a chargeable agreement for sale made by the

vendor and a second purchaser, and that other agreement is cancelled and replaced by a chargeable
agreement for sale made by the vendor and a third purchaser,

then (subject to the notes to head 1(1A), (1B) and (1C) in the First Schedule and to section 29F) each agreement
is chargeable with stamp duty. (Amended 14 of 2011 s. 7; 2 of 2014 s. 8)

(5) If-
(a) a chargeable agreement for sale is made in respect of immovable property; and
(b) another chargeable agreement for sale is made in respect of all or any part of the property (whether by the

vendor or purchaser under the first-mentioned agreement, or both) before a conveyance on sale of the
property or that part of the property is made in pursuance of the first-mentioned agreement; and

(c) under the second-mentioned agreement-
(i) the purchasers are a person named in the first-mentioned agreement as a purchaser and another person

who is not so named; or
(ii) the purchaser is one, or the purchasers are some, (but not all) of the persons named in the first-

mentioned agreement as the purchasers,
the second-mentioned agreement shall be chargeable with stamp duty as if it were a conveyance on sale
executed in pursuance of the first-mentioned agreement for sale and, except for buyer’s stamp duty, section
29D(4) or (5) (as is appropriate) shall apply accordingly. (Amended 2 of 2014 s. 8)

(5A) (a) Notwithstanding any other provisions of this Part, an agreement for sale to which head 1(1A), (1B) or (1C)
in the First Schedule would, apart from this subsection, apply shall, subject to paragraph (b), not be regarded
as an agreement for sale to which that head applies if the agreement is cancelled, annulled or rescinded or is
otherwise not performed.

(b) Where an agreement for sale described in paragraph (a) is cancelled, annulled or rescinded or is otherwise
not performed by reason of the occurrence of a specified event described in subsection (5AA), despite
paragraph (a), the agreement continues to be regarded as an agreement for sale to which head 1(1A), (1B)
or (1C) in the First Schedule applies. (Added L.N. 90 of 1999 and 44 of 1999 s. 19. Amended 14 of 2011 s.
7; 2 of 2014 s. 8)

(5AA) In relation to an agreement for sale made in respect of immovable property (first agreement), there is
occurrence of a specified event if-

(a) except as provided in subsection (5AB), another agreement for sale is made by the purchaser under the first
agreement in which the purchaser makes a nomination or gives a direction that- (Amended 14 of 2014 s.
15)
(i) transfers, or gives a power to transfer, any benefit of the purchaser in respect of the property or any

part of the property under the first agreement; or
(ii) authorizes another person to take a conveyance of the property or any part of the property or to execute

such a conveyance in favour of a third party; or (Amended 2 of 2014 s. 8; 14 of 2014 s. 15)
(b) another agreement for sale is made in respect of the property or any part of the property-

(i) between the vendor under the first agreement and a party introduced, directly or indirectly, to the
vendor by the purchaser under the first agreement; or

(ii) under the direction of or upon the request of the purchaser. (Added 14 of 2011 s. 7)
(5AB) A nomination or direction is excluded from subsection (5AA)(a) if-



Cap 117 - Stamp Duty Ordinance 44

(a) it is made or given in favour of a person who is to be a trustee for the purchaser mentioned in that
subsection in respect of the property concerned or part of it;

(b) in so far as it relates to head 1(1A) in the First Schedule-
(i) the property is residential property; and
(ii) it is shown to the satisfaction of the Collector that subsection (5AC) applies to the nomination or

direction; or
(c) in so far as it relates to head 1(1B) and (1C) in the First Schedule-

(i) the property is residential property; and
(ii) subsection (5AD) applies to the nomination or direction. (Added 14 of 2014 s. 15)

(5AC) This subsection applies to the nomination or direction if-
(a) it is made or given in favour of one, or more than one, person (whether or not also in favour of the

purchaser); and
(b) on the date of the nomination or direction-

(i) that person, or each of those persons, is closely related to the purchaser, or to each of the purchasers;
(ii) where there is more than one person, those persons are also closely related;
(iii) that person, or each of those persons, is acting on his or her own behalf; and
(iv) that person, or each of those persons, is not a beneficial owner of any other residential property in

Hong Kong. (Added 14 of 2014 s. 15)
(5AD) This subsection applies to the nomination or direction if-

(a) it is made or given in favour of one, or more than one, person (whether or not also in favour of the
purchaser);

(b) that person, or each of those persons, is closely related to the purchaser, or to each of the purchasers; and
(c) where there is more than one person, those persons are also closely related. (Added 14 of 2014 s. 15)

(5B) (a) Subject to paragraph (b), if any monies have been paid under this Ordinance, whether by way of stamp duty
or penalty, in respect of an agreement for sale as an agreement for sale to which head 1(1A), (1B) or (1C) in
the First Schedule applies, but the agreement is under subsection (5A)(a) not regarded as an agreement for
sale to which that head applies, the Collector must refund the monies paid. (Replaced 14 of 2011 s. 7.
Amended 2 of 2014 s. 8)

(b) In relation to an agreement for sale described in paragraph (a), no monies shall be refunded under paragraph
(a) unless-
(i) an application has been made to the Collector-

(A) where the agreement has been cancelled, annulled or rescinded, within 2 years after the
agreement has been cancelled, annulled or rescinded, as the case may be; or

(B) where the agreement has otherwise not been performed, within 2 years after the date agreed
under the agreement as the date of completion of the sale and purchase, or (in its absence) the
date of conveyance, of the immovable property subject to the agreement (whether the date is
determined by reference to the happening of an event or otherwise); and

(ii) such evidence, by statutory declaration or otherwise, in support of the application as the Collector may
require has been produced to the Collector.

(c) Where any monies paid in respect of an agreement for sale are refunded under paragraph (a), the Collector
may cancel- (Amended 21 of 2003 s. 14)
(i) the stamp, if any, denoting payment of the monies on the agreement; or
(ii) the stamp certificate, where applicable, denoting payment of the monies in respect of the agreement.

(Added L.N. 90 of 1999 and 44 of 1999 s. 19. Amended 21 of 2003 s. 14; L.N. 150 of 2014)
(6) (Repealed L.N. 90 of 1999 and 44 of 1999 s. 19)
(7) Where a chargeable agreement for sale consists of 2 or more instruments, the principal instrument only shall be

chargeable with stamp duty and the other instruments shall not be chargeable with stamp duty.
(8) For the purposes of this Ordinance, the consideration for an agreement for sale shall be deemed to be the

aggregate of the amounts and values referred to in section 29B(5)(i) and (j).
(9) For the purpose of ascertaining the manner in which a chargeable agreement for sale is chargeable with stamp

duty, sections 22, 23 and 24 shall operate as if any reference in those sections-
(a) to a conveyance on sale were a reference to a chargeable agreement for sale;
(b) to a transferee were a reference to the purchaser under a chargeable agreement for sale;
(c) to the property conveyed were a reference to the immovable property subject to a chargeable agreement for

sale.



Cap 117 - Stamp Duty Ordinance 45

(10) Where under a chargeable agreement for sale-
(a) the exchange of any immovable property for any other immovable property; or
(b) the partition of an immovable property,
is agreed to, and any consideration is paid or given, or agreed to be paid or given, for equality, the agreement for
sale shall, subject to sections 29F, 29BG and 29BH, be charged with the same stamp duty as a chargeable
agreement for sale for the consideration, and with that stamp duty only. (Amended 14 of 2014 s. 15)

(11)-(13) (Repealed 14 of 2011 s. 7)
(14)-(15) (Omitted as expired—E.R. 2 of 2014)
(16) The amendments made by section 7(9) of the Stamp Duty (Amendment) Ordinance 2011 (14 of 2011) do not

apply in respect of a chargeable agreement for sale that was entered into before the date of commencement+ of
that section, and subsections (11), (12) and (13) as in force immediately before that date apply to the agreement
as if those amendments had not been made. (Added 14 of 2011 s. 7)

______________________________________________________________________________
Note:
# (Replaced 14 of 2014 s. 15)
+ Commencement date: 30 June 2011.

Section: 29CA Further provisions on special stamp duty chargeable on

certain agreements for sale
L.N. 163 of 2013 03/03/2014



(1) Head 1(1B) in the First Schedule applies to a chargeable agreement for sale of any residential property acquired
on or after 20 November 2010 by the vendor under the agreement.

(2) A chargeable agreement for sale is chargeable with special stamp duty under head 1(1B) in the First Schedule if
the residential property concerned is disposed of within a period specified in the first column of that head
beginning on the day on which the vendor under the agreement acquired the property. (Amended 2 of 2014 s. 9)

(3) If only part of the residential property is disposed of within a specified period, special stamp duty is chargeable
only by reference to that part. (Amended 2 of 2014 s. 9)

(4) For the purposes of subsections (2) and (3), head 1(1B) in the First Schedule does not apply to a chargeable
agreement for sale if the residential property disposed of by the vendor under the agreement, or part of the
residential property, consists of—
(a) any building or any part of a building (whether completed or uncompleted), and—

(i) the building is constructed, or caused to be constructed, by the vendor;
(ii) the land on which the building is constructed was acquired by the vendor (irrespective of whether or

not any building existed on the land before the construction commenced); and
(iii) the existing building (if any) was demolished, or caused to be demolished, by the vendor; or

(b) any land, and—
(i) a building existed on the land when the land was acquired by the vendor;
(ii) the building was demolished, or caused to be demolished, by the vendor; and
(iii) there is no building on the land at the time of disposal by the vendor.

(5) For the purposes of this section and head 1(1B) in the First Schedule, the vendor acquired the residential
property on—
(a) subject to subsections (6) and (9)—

(i) the date on which the vendor made a chargeable agreement for sale that provided for the conveyance
of the property to the vendor; or

(ii) (if the chargeable agreement for sale consisted of 2 or more instruments) the date on which the first of
those instruments was made; or

(b) in any other case—
(i) the date of the conveyance under which the property was transferred to or vested in the vendor; or
(ii) (if the conveyance consisted of 2 or more instruments) the date on which the first of those instruments

was made.
(6) If more than one chargeable agreement for sale was made between the same parties and on the same terms in

respect of a residential property, the vendor acquired the property on the date on which the first chargeable
agreement for sale referred to in subsection (5)(a) was made.

(7) For the purposes of this section and head 1(1B) in the First Schedule, the vendor disposes of the residential



Cap 117 - Stamp Duty Ordinance 46

property on, subject to subsections (8) and (9)—
(a) the date on which the vendor makes a chargeable agreement for sale that provides for the conveyance of the

property from the vendor; or
(b) (if the chargeable agreement for sale consists of 2 or more instruments) the date on which the first of those

instruments is made.
(8) If more than one chargeable agreement for sale is made between the same parties and on the same terms in

respect of a residential property, the vendor disposes of the property on the date on which the first chargeable
agreement for sale referred to in subsection (7)(a) is made.

(9) If a chargeable agreement for sale is made in respect of a residential property, and another chargeable agreement
for sale is made in respect of all or any part of the property which is, under section 29C(5), chargeable with
stamp duty as if it were a conveyance on sale executed in pursuance of the first-mentioned agreement, the
property or that part of the property was acquired, and is disposed of, on—
(a) (if under that other agreement the purchasers are those referred to in section 29C(5)(c)(i)) the dates

specified in section 29DA(8) as if that other agreement were a conveyance on sale executed in pursuance of
a chargeable agreement for sale as referred to in section 29D(4); or

(b) (if under that other agreement the purchaser is that, or the purchasers are those, referred to in section
29C(5)(c)(ii)) the dates specified in section 29DA(9) as if that other agreement were a conveyance on sale
executed in pursuance of a chargeable agreement for sale as referred to in section 29D(5).

(10) Head 1(1B) in the First Schedule does not apply to a chargeable agreement for sale if the purchaser under the
agreement is a parent, spouse, child, brother or sister of the vendor under the agreement.

(11) Head 1(1B) in the First Schedule does not apply to a chargeable agreement for sale if—
(a) the agreement is made pursuant to any decree or order of any court; or
(b) the residential property in respect of which the agreement is made—

(i) was transferred to or vested in the vendor by or pursuant to any decree or order of any court;
(ii) relates solely to the estate of a deceased person;
(iii) was devised by or otherwise passed on the death of the deceased person under a will, the law of

intestacy or right of survivorship to the vendor;
(iv) relates solely to a bankrupt’s estate;
(v) relates solely to the property of a company being wound up under section 177(1)(d) of the Companies

(Winding Up and Miscellaneous Provisions) Ordinance (Cap 32); or (Amended 28 of 2012 ss. 912 &
920)

(vi) is the subject of a sale by a mortgagee (being a financial institution within the meaning of section 2 of
the Inland Revenue Ordinance (Cap 112)) or a receiver appointed by such a mortgagee.

(12) The special stamp duty chargeable on a chargeable agreement for sale under head 1(1B) in the First Schedule is
in addition to any other stamp duty with which the agreement is chargeable.

(13) If an instrument is not chargeable with stamp duty under head 1(1A) in the First Schedule, it is not chargeable
with special stamp duty under head 1(1B) in that Schedule.

(Added 14 of 2011 s. 8)

Section: 29CB Further provisions on buyer’s stamp duty chargeable on

certain agreements for sale
14 of 2014 23/02/2013



(1) Subject to the other provisions of this section, head 1(1C) in the First Schedule applies to a chargeable
agreement for sale of any residential property executed on or after 27 October 2012.

(2) A chargeable agreement for sale is not chargeable with buyer’s stamp duty under head 1(1C) in the First
Schedule if it is shown to the satisfaction of the Collector—
(a) that the purchaser, or each of the purchasers, under the agreement is a Hong Kong permanent resident

acting on his or her own behalf;
(b) that—

(i) the purchasers under the agreement consist of—
(A) one, or more than one, person who is a Hong Kong permanent resident; and
(B) one, or more than one, person who is not a Hong Kong permanent resident;

(ii) those purchasers are closely related; and
(iii) each of them is acting on his or her own behalf; or



Cap 117 - Stamp Duty Ordinance 47

(c) that—
(i) the purchaser or purchasers under the agreement and the vendor or each of the vendors under the

agreement are closely related;
(ii) where there is more than one purchaser under the agreement, the purchasers are also closely related;

and
(iii) the purchaser or each of the purchasers is acting on his or her own behalf.

(3) Where a chargeable agreement for sale (original agreement) is made in respect of any residential property, and
another chargeable agreement for sale (second agreement) is made in respect of all or any part of the property,
which is, under section 29C(5), chargeable with stamp duty as if it were a conveyance on sale executed in
pursuance of the original agreement, the second agreement is not chargeable with buyer’s stamp duty under
head 1(1C) in the First Schedule if it is shown to the satisfaction of the Collector—
(a) that the purchasers under the second agreement include one, or more than one, person (newcomer) who is

not named in the original agreement as a purchaser, and—
(i) that the newcomer or each of the newcomers is a Hong Kong permanent resident acting on his or her

own behalf; or
(ii) that—

(A) the newcomer or each of the newcomers is acting on his or her own behalf; and
(B) the person or persons named in the original agreement as the purchaser or purchasers and the

newcomer or newcomers are closely related;
(b) that the purchaser under the second agreement (second agreement purchaser) is one of the persons named

in the original agreement as the purchasers, and—
(i) that the second agreement purchaser is a Hong Kong permanent resident acting on his or her own

behalf; or
(ii) that—

(A) the second agreement purchaser is not a Hong Kong permanent resident but the other person or
persons named in the original agreement as a purchaser or purchasers and the second agreement
purchaser are closely related; and

(B) the second agreement purchaser is acting on his or her own behalf; or
(c) that the purchasers under the second agreement (second agreement purchasers) are some of the persons

named in the original agreement as the purchasers, and—
(i) that each of the second agreement purchasers is a Hong Kong permanent resident acting on his or her

own behalf; or
(ii) that—

(A) each of the second agreement purchasers is acting on his or her own behalf; and
(B) the other person or persons named in the original agreement as a purchaser or purchasers and the

second agreement purchasers are closely related.
(4) Subject to subsections (5) and (6), where the purchaser under a chargeable agreement for sale is not a Hong

Kong permanent resident, the agreement is not chargeable with buyer’s stamp duty under head 1(1C) in the
First Schedule if it is shown to the satisfaction of the Collector—
(a) that the purchaser is acting on his or her own behalf; and
(b) that the residential property concerned is acquired by the purchaser to replace another residential property

that was owned by the purchaser alone or jointly with any other person or persons and that has been—
(i) purchased or otherwise acquired by the Urban Renewal Authority for the purposes of any of its

projects as defined by section 2 of the Urban Renewal Authority Ordinance (Cap 563);
(ii) resumed under an order made under section 3 of the Lands Resumption Ordinance (Cap 124) or

purchased by agreement under section 4A of that Ordinance;
(iii) sold pursuant to an order for sale made by the Lands Tribunal under section 4(1)(b)(i) of the Land

(Compulsory Sale for Redevelopment) Ordinance (Cap 545);
(iv) resumed under an order made under section 4(1) of the Mass Transit Railway (Land Resumption and

Related Provisions) Ordinance (Cap 276);
(v) resumed under an order made under section 13(1) of the Roads (Works, Use and Compensation)

Ordinance (Cap 370);
(vi) resumed under an order made under section 16 or 28(1) of the Railways Ordinance (Cap 519);



Cap 117 - Stamp Duty Ordinance 48

(vii) acquired under an acquisition order made under section 3(1) or (2) of the Land Acquisition (Possessory
Title) Ordinance (Cap 130); or

(viii) resumed under an order made under section 37(2) of the Land Drainage Ordinance (Cap 446).
(5) To avoid doubt, if the property replaced was jointly owned by 2 or more than 2 persons—

(a) subsection (4) does not require the joint owners to jointly acquire a replacement property in order for that
subsection to apply; and

(b) each joint owner may acquire a replacement property alone or jointly with the other joint owner or any of
the other joint owners.

(6) If the purchaser referred to in subsection (4) acquires the replacement property jointly with—
(a) (where the property replaced was owned by the purchaser alone) any other person; or
(b) (where the property replaced was owned by the purchaser jointly with any other person or persons) any

person who was not a joint owner of the property replaced,
subsections (2) and (3) also apply to the chargeable agreement for sale concerned as if the purchaser were a

Hong Kong permanent resident.
(7) A chargeable agreement for sale is not chargeable with buyer’s stamp duty under head 1(1C) in the First

Schedule if it is shown to the satisfaction of the Collector that the agreement is made pursuant to any decree or
order of any court.

(8) If it is shown to the satisfaction of the Collector that—
(a) any purchaser under a chargeable agreement for sale is acting in the transaction as a trustee or guardian for

another person; and
(b) the other person is a Hong Kong permanent resident and is a mentally incapacitated person,

the Collector must, in determining whether the agreement is chargeable with buyer’s stamp duty under head
1(1C) in the First Schedule in accordance with this section, treat the other person as a purchaser under the
agreement in place of the trustee or guardian, and this section is to apply to the agreement accordingly.

(9) If it is shown to the satisfaction of the Collector that—
(a) any vendor under a chargeable agreement for sale is acting in the transaction as a trustee or guardian for

another person; and
(b) the other person is a Hong Kong permanent resident and is a mentally incapacitated person,

the Collector must, in determining whether the agreement is chargeable with buyer’s stamp duty under head
1(1C) in the First Schedule in accordance with this section, treat the other person as a vendor under the
agreement in place of the trustee or guardian, and this section is to apply to the agreement accordingly.

(10) To avoid doubt, a chargeable agreement for sale that is chargeable with buyer’s stamp duty under head 1(1C)
in the First Schedule is chargeable with that duty by reference to the full amount or value of the consideration for
the agreement.

(11) The buyer’s stamp duty chargeable on a chargeable agreement for sale under head 1(1C) in the First Schedule
is in addition to any other stamp duty with which the agreement is chargeable.

(12) If an instrument is not chargeable with stamp duty under head 1(1A) in the First Schedule, it is not chargeable
with buyer’s stamp duty under head 1(1C) in that Schedule.

(13) (Repealed 14 of 2014 s. 16)
(14) This section does not apply to a chargeable agreement for sale executed on or after 27 October 2012 if it was

preceded by another chargeable agreement for sale executed between the same parties and on the same terms
that was executed before 27 October 2012.

(Added 2 of 2014 s. 10)

Section: 29CC Agreements for exchange of properties 2 of 2014 27/10/2012


(1) Subject to subsection (3), if an agreement executed on or after 27 October 2012 provides for the exchange of any
residential property for any non-residential property (whether or not any consideration is paid or given, or agreed
to be paid or given, for equality)—
(a) the agreement—

(i) is deemed to be a chargeable agreement for sale for the purposes of section 29CB; and
(ii) despite section 29CB(10) and (12), is chargeable with buyer’s stamp duty under head 1(1C) in the

First Schedule by reference to the value of the residential property; and



Cap 117 - Stamp Duty Ordinance 49

(b) the person or persons to whom the residential property is to be transferred is or are deemed to be the
purchaser or purchasers under the agreement, and the person or persons from whom the residential property
is to be transferred is or are deemed to be the vendor or vendors under the agreement.

(2) Subject to subsection (3), if an agreement executed on or after 27 October 2012 provides for the exchange of any
residential property for any other residential property, and any consideration is paid or given, or agreed to be
paid or given, for equality—
(a) the agreement—

(i) is deemed to be a chargeable agreement for sale for the purposes of section 29CB; and
(ii) despite section 29CB(10), is, subject to section 29F, chargeable with buyer’s stamp duty under head

1(1C) in the First Schedule by reference to the consideration; and
(b) the person or persons by whom the consideration is paid or given, or to be paid or given, is or are deemed to

be the purchaser or purchasers under the agreement, and the person or persons to whom the consideration is
paid or given, or to be paid or given, is or are deemed to be the vendor or vendors under the agreement.

(3) An agreement that is deemed to be a chargeable agreement for sale under subsection (1) or (2) is not chargeable
with buyer’s stamp duty under head 1(1C) in the First Schedule if it is shown to the satisfaction of the
Collector that, in relation to the chargeable agreement, any of the conditions set out in section 29CB(2)(a), (b)
and (c) is met.

(Added 2 of 2014 s. 10)

Part:
Division:

IIIA
4

Conveyances on Sale: Further Provisions 14 of 2014 23/02/2013



(Added 14 of 2014 s. 17)

Section: 29D Conveyances on sale and agreements for sale involving

same immovable property*
E.R. 2 of 2014 10/04/2014



(1) If a conveyance on sale of immovable property is presented for stamping, or an application for stamping is made
under section 18F, and the Collector has reason to believe- (Amended 21 of 2003 s. 15; 14 of 2014 s. 18)
(a) that a chargeable agreement for sale or an unwritten sale agreement that would, if it were in the form of an

instrument, be a chargeable agreement for sale has been made in respect of all or any part of that property
after it was vested in the vendor; and

(b) that, in respect of that agreement, section 29B(1) has not been complied with, or the agreement for sale has
not been duly stamped or stamped under section 5(1), 13(2) or 18E(1),

the Collector may refuse to stamp the conveyance on sale.
(2) Subject to subsection (3), where a conveyance on sale of immovable property is executed in conformity with a

chargeable agreement for sale and- (Amended 14 of 2014 s. 18)
(a) the agreement for sale is duly stamped or stamped under section 5(1), 13(2) or 18E(1) (whether before or

after the execution of the conveyance on sale), the conveyance on sale is chargeable with stamp duty of
$100;

(b) the agreement for sale is not stamped-
(i) the conveyance on sale is chargeable with stamp duty under head 1(1) and (if applicable) (1AA) or

(1AAB) in the First Schedule; (Amended 2 of 2014 s. 11)
(ii) for the purposes of subparagraph (i), the conveyance shall be deemed to have been executed on the

date that the agreement for sale was made or, if the agreement for sale was preceded by an agreement
for sale, or an unwritten sale agreement, made between the same parties and on the same terms, the
date when the first such agreement was made; and (Amended L.N. 90 of 1999 and 44 of 1999 s. 20)

(iii) the agreement for sale is chargeable with stamp duty of $100.
(3) Where a conveyance on sale of immovable property is executed in conformity with 2 or more agreements for

sale, each relating to different parts of the property, and one or more of those agreements is a chargeable
agreement for sale, then- (Amended 14 of 2014 s. 18)
(a) if each of the chargeable agreements for sale is duly stamped or stamped under section 5(1), 13(2) or 18E(1)

(whether before or after the execution of the conveyance on sale), the conveyance on sale is chargeable with
stamp duty under head 1(1) and (if applicable) (1AA) or (1AAB) in the First Schedule, less the total amount



Cap 117 - Stamp Duty Ordinance 50

of stamp duty (excluding any penalty) paid or assessed to be payable in respect of those agreements for
sale;

(b) if any of the chargeable agreements for sale is not duly stamped or stamped under section 5(1), 13(2) or
18E(1), the conveyance on sale shall not be stamped except by the Collector upon payment of the stamp
duty payable in respect of the conveyance under head 1(1) and (if applicable) (1AA) or (1AAB) in the First
Schedule, and any penalty payable in respect of that agreement for sale under section 9, less the total
amount of stamp duty paid or assessed to be payable in respect of any of the other chargeable agreements
for sale;

(c) if the conveyance on sale is duly stamped or stamped under section 5(1), 13(2) or 18E(1) before each of the
chargeable agreements for sale is duly stamped, any unstamped chargeable agreement for sale is chargeable
with stamp duty of $100, any chargeable agreement for sale that has been assessed remains chargeable with
the amount of the stamp duty assessed, and any chargeable agreement for sale that has been stamped under
section 13(2) but not assessed ceases to be chargeable with any further stamp duty. (Amended 2 of 2014 s.
11)

(4) Where a conveyance on sale of immovable property is executed in pursuance of a chargeable agreement for sale
and is in favour of a person named in the agreement as the purchaser and another person who is not so named,
then- (Amended 14 of 2014 s. 18)
(a) if the agreement for sale is duly stamped or stamped under section 5(1), 13(2) or 18E(1) (whether before or

after the execution of the conveyance on sale), the conveyance on sale is chargeable with stamp duty under
head 1(1) and (if applicable) (1AA) in the First Schedule by reference to the consideration for the
conveyance, less a fraction of the stamp duty representing the proportion of the property that is vested in the
person named in the agreement as the purchaser; and for the purposes of this subsection, joint tenants shall
be treated as having equal undivided shares in the property; (Amended 14 of 2014 s. 18)

(b) if the agreement for sale is not so stamped-
(i) the Collector may refuse to stamp the conveyance on sale. (Replaced 14 of 2011 s. 9)
(ii)-(iii) (Repealed L.N. 90 of 1999 and 44 of 1999 s. 20)

(5) Where a conveyance on sale of immovable property is executed in pursuance of a chargeable agreement for sale
and is in favour of one or some (but not all) of the persons named in the agreement as the purchaser or
purchasers, then- (Amended 14 of 2014 s. 18)
(a) if the agreement for sale is duly stamped, or stamped under section 5(1), 13(2) or 18E(1) (whether before or

after the execution of the conveyance on sale), the conveyance on sale is chargeable with stamp duty under
head 1(1) and (if applicable) (1AA) in the First Schedule by reference to the consideration for the
conveyance, less a fraction of the stamp duty representing the proportion of the property that, according to
the agreement for sale, was to be conveyed to the person or persons in whose favour the conveyance on sale
was executed; and for the purposes of this subsection, an agreement that provides for a conveyance to
purchasers as joint tenants shall be treated as an agreement to convey the property to those purchasers in
equal undivided shares; (Amended 14 of 2014 s. 18)

(b) if the agreement for sale is not so stamped-
(i) the Collector may refuse to stamp the conveyance on sale. (Replaced 14 of 2011 s. 9)
(ii)-(iii) (Repealed L.N. 90 of 1999 and 44 of 1999 s. 20)

(6) For the purposes of this section-
(a) a conveyance on sale shall be deemed to be a conveyance on sale of residential property unless it contains a

statement certifying that the immovable property subject to the conveyance is non-residential property
within the meaning of section 29A(1);

(b) a conveyance on sale that contains such a statement may be shown to be a conveyance on sale of residential
property;

(c) a conveyance on sale is not executed in conformity with an agreement for sale unless the conveyance on
sale-
(i) is of the whole or part of the immovable property subject to the agreement for sale; and
(ii) subject to subsection (7), is in favour of the person or all persons named in the agreement for sale as

the purchaser or purchasers and no other person; (Amended 2 of 2014 s. 11; 14 of 2014 s. 18)
(d) a conveyance on sale is not executed in pursuance of an agreement for sale unless the conveyance on sale is

of the whole or part of the immovable property subject to the agreement for sale and is not executed in
conformity with the agreement for sale;

(e) a reference in subsection (3) to an agreement for sale includes a reference to an agreement for sale made



Cap 117 - Stamp Duty Ordinance 51

before the commencement of the Stamp Duty (Amendment) Ordinance 1992 (8 of 1992).
(7) For subsection (6)(c)(ii), if the property concerned is residential property-

(a) for the purposes of head 1(1) in the First Schedule, 2 or more persons are treated as the same person if, on
the date of the conveyance concerned-
(i) they are closely related;
(ii) each of them is acting on his or her own behalf; and
(iii) the person, or each of the persons, in whose favour the conveyance is executed is not a beneficial

owner of any other residential property in Hong Kong; and
(b) for the purposes of head 1(1AA) and (1AAB) in the First Schedule, 2 or more persons are treated as the

same person if they are closely related. (Added 14 of 2014 s. 18)
(8) Despite section 71(3) and (4), a reference in subsection (3) to an agreement for sale includes an agreement for

sale of non-residential property made before 23 February 2013. (Added 14 of 2014 s. 18)
(Amended 21 of 2003 s. 15; 14 of 2011 s. 9)

____________________________________________________________________________
Note:
* (Replaced 14 of 2014 s. 18)

Section: 29DA Further provisions on special stamp duty chargeable on

certain conveyances on sale
L.N. 163 of 2013 03/03/2014



(1) Head 1(1AA) in the First Schedule applies to a conveyance on sale of any residential property acquired on or
after 20 November 2010 by the transferor under the conveyance on sale.

(2) A conveyance on sale is chargeable with special stamp duty under head 1(1AA) in the First Schedule if the
residential property concerned is disposed of within a period specified in the first column of that head beginning
on the day on which the transferor under the conveyance on sale acquired the property. (Amended 2 of 2014 s.
12)

(3) If only part of the residential property is disposed of within a specified period, special stamp duty is chargeable
only by reference to that part. (Amended 2 of 2014 s. 12)

(4) For the purposes of subsections (2) and (3), head 1(1AA) in the First Schedule does not apply to a conveyance
on sale if the residential property disposed of by the transferor under the conveyance on sale, or part of the
residential property, consists of—
(a) any building or any part of a building (whether completed or uncompleted), and—

(i) the building is constructed, or caused to be constructed, by the transferor;
(ii) the land on which the building is constructed was acquired by the transferor (irrespective of whether or

not any building existed on the land before the construction commenced); and
(iii) the existing building (if any) was demolished, or caused to be demolished, by the transferor; or

(b) any land, and—
(i) a building existed on the land when the land was acquired by the transferor;
(ii) the building was demolished, or caused to be demolished, by the transferor; and
(iii) there is no building on the land at the time of disposal by the transferor.

(5) For the purposes of this section and head 1(1AA) in the First Schedule, the transferor acquired the residential
property on—
(a) subject to subsections (6), (8) and (9)—

(i) the date on which the transferor made a chargeable agreement for sale that provided for the
conveyance of the property to the transferor; or

(ii) (if the chargeable agreement for sale consisted of 2 or more instruments) the date on which the first of
those instruments was made; or

(b) in any other case—
(i) the date of the conveyance under which the property was transferred to or vested in the transferor; or
(ii) (if the conveyance consisted of 2 or more instruments) the date on which the first of those instruments

was made.
(6) If more than one chargeable agreement for sale was made between the same parties and on the same terms in

respect of a residential property, the transferor acquired the property on the date on which the first chargeable
agreement for sale referred to in subsection (5)(a) was made.



Cap 117 - Stamp Duty Ordinance 52

(7) For the purposes of this section and head 1(1AA) in the First Schedule, the transferor disposes of the residential
property on, subject to subsections (8) and (9) and section 29CA(7), (8) and (9)—
(a) the date of the conveyance on sale of the property under which the property is transferred or divested from

the transferor; or
(b) (if the conveyance on sale consists of 2 or more instruments) the date on which the first of those

instruments is made.
(8) In the case of a conveyance on sale of residential property executed in pursuance of a chargeable agreement for

sale as referred to in section 29D(4), the person named in the agreement as the purchaser (that purchaser)—
(a) acquired the property on—

(i) the date on which that purchaser made a chargeable agreement for sale that provided for the
conveyance of the property to that purchaser; or

(ii) (if the chargeable agreement for sale consisted of 2 or more instruments) the date on which the first of
those instruments was made; and

(b) disposes of the proportion of the property to be vested in the other person not named in the agreement as a
purchaser as referred to in that section on—
(i) the date on which the conveyance on sale is executed; or
(ii) (if the conveyance on sale consists of 2 or more instruments) the date on which the first of those

instruments is made.
(9) In the case of a conveyance on sale of residential property executed in pursuance of a chargeable agreement for

sale as referred to in section 29D(5), a person named in the agreement as one of the purchasers (that person), if
the conveyance on sale is not executed in favour of that person—
(a) acquired that person’s proportion of the property on—

(i) the date on which that person, together with the other person or persons named in the agreement as a
purchaser or purchasers as referred to in that section, made a chargeable agreement for sale that
provided for the conveyance of the property to that person and that other person or persons; or

(ii) (if the chargeable agreement for sale consisted of 2 or more instruments) the date on which the first of
those instruments was made; and

(b) disposes of that person’s proportion of the property on—
(i) the date on which the conveyance on sale is executed; or
(ii) (if the conveyance on sale consists of 2 or more instruments) the date on which the first of those

instruments is made.
(10) Head 1(1AA) in the First Schedule does not apply to a conveyance on sale if the person to whom the residential

property is vested or transferred under the conveyance on sale is a parent, spouse, child, brother or sister of the
transferor under the conveyance on sale.

(11) Head 1(1AA) in the First Schedule does not apply to a conveyance on sale of residential property if—
(a) the conveyance on sale is, or is executed pursuant to, any decree or order of any court; or
(b) the property—

(i) was transferred to or vested in the transferor by or pursuant to any decree or order of any court;
(ii) relates solely to the estate of a deceased person;
(iii) was devised by or otherwise passed on the death of the deceased person under a will, the law of

intestacy or right of survivorship to the transferor;
(iv) relates solely to a bankrupt’s estate;
(v) relates solely to the property of a company being wound up under section 177(1)(d) of the Companies

(Winding Up and Miscellaneous Provisions) Ordinance (Cap 32); or (Amended 28 of 2012 ss. 912 &
920)

(vi) is the subject of a sale by a mortgagee (being a financial institution within the meaning of section 2 of
the Inland Revenue Ordinance (Cap 112)) or a receiver appointed by such a mortgagee.

(12) The special stamp duty chargeable on a conveyance on sale under head 1(1AA) in the First Schedule is in
addition to any other stamp duty with which the conveyance on sale is chargeable.

(13) If an instrument is not chargeable with stamp duty under head 1(1) in the First Schedule, it is not chargeable
with special stamp duty under head 1(1AA) in that Schedule.

(14) Paragraphs (a), (b), (c) and (d) of section 29D(6) also apply for the purposes of this section.
(15) (Repealed 14 of 2014 s. 19)

(Added 14 of 2011 s. 10)



Cap 117 - Stamp Duty Ordinance 53


Section: 29DB Further provisions on buyer’s stamp duty chargeable on

certain conveyances on sale
14 of 2014 23/02/2013



(1) Subject to the other provisions of this section, head 1(1AAB) in the First Schedule applies to a conveyance on
sale of any residential property executed on or after 27 October 2012.

(2) A conveyance on sale is not chargeable with buyer’s stamp duty under head 1(1AAB) in the First Schedule if it
is shown to the satisfaction of the Collector—
(a) that the transferee, or each of the transferees, under the conveyance is a Hong Kong permanent resident

acting on his or her own behalf;
(b) that—

(i) the transferees under the conveyance consist of—
(A) one, or more than one, person who is a Hong Kong permanent resident; and
(B) one, or more than one, person who is not a Hong Kong permanent resident;

(ii) those transferees are closely related; and
(iii) each of them is acting on his or her own behalf; or

(c) that—
(i) the transferee or transferees under the conveyance and the transferor or each of the transferors under

the conveyance are closely related;
(ii) where there is more than one transferee under the conveyance, the transferees are also closely related;

and
(iii) the transferee or each of the transferees is acting on his or her own behalf.

(3) Where a conveyance on sale is executed in pursuance of a chargeable agreement for sale as referred to in section
29D(4), and the transferees under the conveyance include one, or more than one, person (newcomer) who is not
named in the agreement as a purchaser, the conveyance is not chargeable with buyer’s stamp duty under head
1(1AAB) in the First Schedule if it is shown to the satisfaction of the Collector—
(a) that the newcomer or each of the newcomers is a Hong Kong permanent resident acting on his or her own

behalf; or
(b) that—

(i) the newcomer or each of the newcomers is acting on his or her own behalf; and
(ii) the person or persons named in the agreement as the purchaser or purchasers and the newcomer or

newcomers are closely related.
(4) A conveyance on sale that is executed in pursuance of a chargeable agreement for sale as referred to in section

29D(5) is not chargeable with buyer’s stamp duty under head 1(1AAB) in the First Schedule if it is shown to
the satisfaction of the Collector—
(a) that the transferee under the conveyance is one of the persons named in the agreement as the purchasers,

and—
(i) that the transferee is a Hong Kong permanent resident acting on his or her own behalf; or
(ii) that—

(A) the transferee is not a Hong Kong permanent resident but the other person or persons named in
the agreement as a purchaser or purchasers and the transferee are closely related; and

(B) the transferee is acting on his or her own behalf; or
(b) that the transferees under the conveyance are some of the persons named in the agreement as the

purchasers, and—
(i) that each of the transferees is a Hong Kong permanent resident acting on his or her own behalf; or
(ii) that—

(A) each of the transferees is acting on his or her own behalf; and
(B) the other person or persons named in the agreement as a purchaser or purchasers and the

transferees are closely related.
(5) Subject to subsections (6) and (7), where the transferee under a conveyance on sale is not a Hong Kong

permanent resident, the conveyance is not chargeable with buyer’s stamp duty under head 1(1AAB) in the First
Schedule if it is shown to the satisfaction of the Collector—
(a) that the transferee is acting on his or her own behalf; and



Cap 117 - Stamp Duty Ordinance 54

(b) that the residential property concerned is acquired by the transferee to replace another residential property
that was owned by the transferee alone or jointly with any other person or persons and that has been—
(i) purchased or otherwise acquired by the Urban Renewal Authority for the purposes of any of its

projects as defined by section 2 of the Urban Renewal Authority Ordinance (Cap 563);
(ii) resumed under an order made under section 3 of the Lands Resumption Ordinance (Cap 124) or

purchased by agreement under section 4A of that Ordinance;
(iii) sold pursuant to an order for sale made by the Lands Tribunal under section 4(1)(b)(i) of the Land

(Compulsory Sale for Redevelopment) Ordinance (Cap 545);
(iv) resumed under an order made under section 4(1) of the Mass Transit Railway (Land Resumption and

Related Provisions) Ordinance (Cap 276);
(v) resumed under an order made under section 13(1) of the Roads (Works, Use and Compensation)

Ordinance (Cap 370);
(vi) resumed under an order made under section 16 or 28(1) of the Railways Ordinance (Cap 519);

(vii) acquired under an acquisition order made under section 3(1) or (2) of the Land Acquisition (Possessory
Title) Ordinance (Cap 130); or

(viii) resumed under an order made under section 37(2) of the Land Drainage Ordinance (Cap 446).
(6) To avoid doubt, if the property replaced was jointly owned by 2 or more than 2 persons—

(a) subsection (5) does not require the joint owners to jointly acquire a replacement property in order for that
subsection to apply; and

(b) each joint owner may acquire a replacement property alone or jointly with the other joint owner or any of
the other joint owners.

(7) If the transferee referred to in subsection (5) acquires the replacement property jointly with—
(a) (where the property replaced was owned by the transferee alone) any other person; or
(b) (where the property replaced was owned by the transferee jointly with any other person or persons) any

person who was not a joint owner of the property replaced,
subsections (2), (3) and (4) also apply to the conveyance on sale concerned as if the transferee were a Hong

Kong permanent resident.
(8) A conveyance on sale is not chargeable with buyer’s stamp duty under head 1(1AAB) in the First Schedule if it

is shown to the satisfaction of the Collector that—
(a) the conveyance is made pursuant to any decree or order of any court;
(b) the conveyance is a decree or order of any court by which the residential property concerned is transferred

to or vested in the transferee; or
(c) under the conveyance, a mortgaged property is transferred to or vested in its mortgagee that is a financial

institution within the meaning of section 2 of the Inland Revenue Ordinance (Cap 112) or a receiver
appointed by the mortgagee.

(9) If it is shown to the satisfaction of the Collector that—
(a) any transferee under a conveyance on sale is acting in the transaction as a trustee or guardian for another

person; and
(b) the other person is a Hong Kong permanent resident and is a mentally incapacitated person,

the Collector must, in determining whether the conveyance is chargeable with buyer’s stamp duty under head
1(1AAB) in the First Schedule in accordance with this section, treat the other person as a transferee under the
conveyance in place of the trustee or guardian, and this section is to apply to the conveyance accordingly.

(10) If it is shown to the satisfaction of the Collector that—
(a) any transferor under a conveyance on sale is acting in the transaction as a trustee or guardian for another

person; and
(b) the other person is a Hong Kong permanent resident and is a mentally incapacitated person,

the Collector must, in determining whether the conveyance is chargeable with buyer’s stamp duty under head
1(1AAB) in the First Schedule in accordance with this section, treat the other person as a transferor under the
conveyance in place of the trustee or guardian, and this section is to apply to the conveyance accordingly.

(11) To avoid doubt, a conveyance on sale that is chargeable with buyer’s stamp duty under head 1(1AAB) in the
First Schedule is chargeable with that duty by reference to the full amount or value of the consideration for the
conveyance.

(12) The buyer’s stamp duty chargeable on a conveyance on sale under head 1(1AAB) in the First Schedule is in



Cap 117 - Stamp Duty Ordinance 55

addition to any other stamp duty with which the conveyance is chargeable.
(13) If an instrument is not chargeable with stamp duty under head 1(1) in the First Schedule, it is not chargeable

with buyer’s stamp duty under head 1(1AAB) in that Schedule.
(14) Paragraphs (a), (b), (c) and (d) of section 29D(6) also apply for the purposes of this section.
(15)-(17) (Repealed 14 of 2014 s. 20)

(Added 2 of 2014 s. 13)

Section: 29DC Instruments effecting exchange of properties 2 of 2014 27/10/2012


(1) Subject to subsection (3), if the exchange of any residential property for any non-residential property is effected
by an instrument that is executed on or after 27 October 2012 (whether or not any consideration is paid or given
for equality)—
(a) the instrument—

(i) is deemed to be a conveyance on sale for the purposes of section 29DB; and
(ii) despite section 29DB(11) and (13), is chargeable with buyer’s stamp duty under head 1(1AAB) in

the First Schedule by reference to the value of the residential property; and
(b) the person or persons to whom the residential property is transferred is or are deemed to be the transferee or

transferees under the conveyance, and the person or persons from whom the residential property is
transferred is or are deemed to be the transferor or transferors under the conveyance.

(2) Subject to subsection (3), if the exchange of any residential property for any other residential property is effected
by an instrument that is executed on or after 27 October 2012, and any consideration is paid or given for equality

(a) the instrument—

(i) is deemed to be a conveyance on sale for the purposes of section 29DB; and
(ii) despite section 29DB(11), is, subject to section 29F, chargeable with buyer’s stamp duty under head

1(1AAB) in the First Schedule by reference to the consideration; and
(b) the person or persons by whom the consideration is paid or given is or are deemed to be the transferee or

transferees under the conveyance, and the person or persons to whom the consideration is paid or given is or
are deemed to be the transferor or transferors under the conveyance.

(3) An instrument that is deemed to be a conveyance on sale under subsection (1) or (2) is not chargeable with
buyer’s stamp duty under head 1(1AAB) in the First Schedule if it is shown to the satisfaction of the Collector
that, in relation to the conveyance, any of the conditions set out in section 29DB(2)(a), (b) and (c) is met.

(Added 2 of 2014 s. 13)

Part:
Division:

IIIA
5

Refund of Stamp Duty in case of Redevelopment 14 of 2014 23/02/2013



(Added 14 of 2014 s. 21)

Section: 29DD Refund of buyer’s stamp duty in case of redevelopment 2 of 2014 27/10/2012


(1) Despite anything in this Ordinance and subject to subsection (2), the Collector may, on an application made by a
person (applicant) who had paid buyer’s stamp duty in respect of an instrument, refund the buyer’s stamp
duty if—
(a) the residential property concerned consisted, or formed part, of a lot (the lot);
(b) the applicant—

(i) alone or jointly with an associated body corporate within the meaning of section 45(2), became the
owner of the lot; or

(ii) after becoming the owner as mentioned in subparagraph (i), was, alone or jointly with the associated
body corporate, granted a new lot (the new lot) by the Government consequent on either or both of the
following—
(A) the surrender to the Government of the lot (wholly or partly and whether or not together with any

other lot);



Cap 117 - Stamp Duty Ordinance 56

(B) the acquisition by the Government through purchase by agreement under section 4A of the Lands
Resumption Ordinance (Cap 124), or resumption by the Government under an order made under
section 3 of that Ordinance, of the lot (wholly or partly and whether or not together with any
other lot); and

(c) the applicant, alone or jointly with the associated body corporate—
(i) has—

(A) demolished or caused to be demolished all buildings (if any) existing on the lot or the new lot,
other than a building or part of a building the demolition of which is prohibited under any
Ordinance; and

(B) obtained approval of plans and details prescribed in regulation 8(1)(a), (b), (f), (g), (h), (j), (k)
and (m) of the Building (Administration) Regulations (Cap 123 sub. leg. A) in respect of
building works to be carried out on the lot or the new lot (whether or not together with any other
lot) from the Building Authority under the Buildings Ordinance (Cap 123); or

(ii) has obtained consent to commence any foundation works for the lot or the new lot (whether or not
together with any other lot) from the Building Authority under the Buildings Ordinance (Cap 123).

(2) If—
(a) a residential property was acquired by a body corporate (first body corporate) under an instrument in

respect of which it had paid buyer’s stamp duty;
(b) the property was subsequently transferred to another body corporate (second body corporate)—

(i) by the first body corporate; or
(ii) through one or more than one other body corporate (other bodies corporate); and

(c) the instrument effecting the transfer of the property to the second body corporate and (if applicable) the
instruments effecting the transfer of the property to the other bodies corporate were, by virtue of section 45,
not chargeable with buyer’s stamp duty,

the second body corporate may also apply to the Collector under subsection (1) for a refund to the second body
corporate of the buyer’s stamp duty paid by the first body corporate in respect of the instrument referred to in
paragraph (a), and such an application is to be treated by the Collector as if the second body corporate were the
person who had paid the buyer’s stamp duty.

(3) For the purposes of this section, in relation to a lot that has been divided into undivided shares, a person does not
become the owner of the lot until the person is the legal owner of all the undivided shares in the lot.

(4) In this section—
lot (地段) has the meaning given by section 2(1) of the Land (Compulsory Sale for Redevelopment) Ordinance (Cap

545).
(Added 2 of 2014 s. 13)


Section: 29DE Partial refund of ad valorem stamp duty in case of

redevelopment
14 of 2014 23/02/2013



(1) In this section—
applicable instrument (適用文書) means an instrument on which stamp duty had been paid according to Scale 1 of

head 1(1), or Scale 1 of head 1(1A), in the First Schedule;
specified amount (指明款項) means—

(a) for an applicable instrument on which stamp duty had been paid according to Scale 1 of head 1(1) in the
First Schedule—an amount equal to the difference between the stamp duty paid and the stamp duty that
would have been payable on that instrument if it were chargeable under Scale 2 of head 1(1) in the First
Schedule; or

(b) for an applicable instrument on which stamp duty had been paid according to Scale 1 of head 1(1A) in the
First Schedule—an amount equal to the difference between the stamp duty paid and the stamp duty that
would have been payable on that instrument if it were chargeable under Scale 2 of head 1(1A) in the First
Schedule.

(2) Subject to subsection (4), if—
(a) a person has paid stamp duty on an applicable instrument according to Scale 1 of head 1(1), or Scale 1 of



Cap 117 - Stamp Duty Ordinance 57

head 1(1A), in the First Schedule; and
(b) the conditions specified in subsection (3) are satisfied in relation to the immovable property concerned,
the Collector may, on an application made by the person, refund to the person the specified amount.

(3) The conditions are—
(a) the immovable property concerned consisted, or formed part, of a lot (the lot);
(b) the person—

(i) alone or jointly with an associated body corporate within the meaning of section 45(2), became the
owner of the lot; or

(ii) after becoming the owner as mentioned in subparagraph (i), was, alone or jointly with the associated
body corporate, granted a new lot (the new lot) by the Government consequent on either or both of the
following—
(A) the surrender to the Government of the lot (wholly or partly and whether or not together with any

other lot);
(B) the acquisition by the Government through purchase by agreement under section 4A of the Lands

Resumption Ordinance (Cap 124), or resumption by the Government under an order made under
section 3 of that Ordinance, of the lot (wholly or partly and whether or not together with any
other lot); and

(c) the person, alone or jointly with the associated body corporate—
(i) has—

(A) demolished or caused to be demolished all buildings (if any) existing on the lot or the new lot,
other than a building or part of a building the demolition of which is prohibited under any
Ordinance; and

(B) obtained approval of plans and details prescribed in regulation 8(1)(a), (b), (f), (g), (h), (j), (k)
and (m) of the Building (Administration) Regulations (Cap 123 sub. leg. A) in respect of
building works to be carried out on the lot or the new lot (whether or not together with any other
lot) from the Building Authority under the Buildings Ordinance (Cap 123); or

(ii) has obtained consent to commence any foundation works for the lot or the new lot (whether or not
together with any other lot) from the Building Authority under the Buildings Ordinance (Cap 123).

(4) If—
(a) immovable property was acquired by a body corporate (first body corporate) under an instrument on which

it had paid stamp duty according to Scale 1 of head 1(1), or Scale 1 of head 1(1A), in the First Schedule;
(b) the property was subsequently transferred by the first body corporate to another body corporate (second

body corporate) directly or through one, or more than one, other body corporate; and
(c) the instrument or instruments effecting the transfer of the property to the second body corporate were, by

virtue of section 45, not chargeable with stamp duty,
the second body corporate is regarded, for the purposes of subsection (2)(a), as the person who has paid the
stamp duty on the instrument as described in paragraph (a).

(5) For the purposes of this section, in relation to a lot that has been divided into undivided shares, a person becomes
the owner of the lot when the person becomes the legal owner of all the undivided shares in the lot.

(6) In this section—
lot (地段) has the meaning given by section 2(1) of the Land (Compulsory Sale for Redevelopment) Ordinance (Cap

545).
(Added 14 of 2014 s. 22)


Part:
Division:

IIIA
6

Further Provisions on Ad Valorem Stamp Duty 14 of 2014 23/02/2013



(Division 6 added 14 of 2014 s. 23)

Section: 29DF Partial refund of ad valorem stamp duty on disposal of

residential property in certain circumstances
14 of 2014 23/02/2013



(1) In this section—



Cap 117 - Stamp Duty Ordinance 58

applicable instrument (適用文書) means an instrument—
(a) under which a residential property (whether or not together with a car parking space permitted for the

parking of 1 motor vehicle) is acquired; and
(b) on which stamp duty had been paid according to Scale 1 of head 1(1), or Scale 1 of head 1(1A), in the First

Schedule;
original property (原物業), in relation to a person who acquires a subject property under an applicable instrument,

means another residential property (whether or not together with a car parking space permitted for the parking of
1 motor vehicle) of which the person is a beneficial owner on the date of that acquisition;

specified amount (指明款項) means—
(a) for an applicable instrument on which stamp duty had been paid according to Scale 1 of head 1(1) in the

First Schedule—an amount equal to the difference between the stamp duty paid and the stamp duty that
would have been payable on that instrument if it were chargeable under Scale 2 of head 1(1) in the First
Schedule in accordance with Division 2; or

(b) for an applicable instrument on which stamp duty had been paid according to Scale 1 of head 1(1A) in the
First Schedule—an amount equal to the difference between the stamp duty paid and the stamp duty that
would have been payable on that instrument if it were chargeable under Scale 2 of head 1(1A) in the First
Schedule in accordance with Division 3;

subject property (標的物業) means the residential property, or the residential property and car parking space,
acquired under an applicable instrument.

(2) The Collector may, on an application made by a person (applicant) who had paid stamp duty on an applicable
instrument, refund to the applicant the specified amount if—
(a) subsection (3) or (4) applies to the disposal of an original property of the applicant; and
(b) had the original property been disposed of before the subject property was acquired, the applicable

instrument would have been chargeable with stamp duty under Scale 2 of head 1(1), or Scale 2 of head
1(1A), in the First Schedule.

(3) This subsection applies to the disposal of an original property of the applicant if—
(a) it is shown to the satisfaction of the Collector that the original property is disposed of by the applicant under

an agreement for sale that is made within the period specified in subsection (5);
(b) it is shown to the satisfaction of the Collector that the original property is transferred or divested from the

applicant under a conveyance on sale executed in conformity with that agreement; and
(c) the application for refund is made by the applicant not later than 2 years after the date of the applicable

instrument, or not later than 2 months after the date of the conveyance on sale under which the original
property is transferred or divested, whichever is the later.

(4) This subsection applies to the disposal of an original property of the applicant if—
(a) it is shown to the satisfaction of the Collector that the original property is transferred or divested from the

applicant under a conveyance on sale within the period specified in subsection (5); and
(b) the application for refund is made by the applicant not later than 2 years after the date of the applicable

instrument, or not later than 2 months after the date of the conveyance on sale under which the original
property is transferred or divested, whichever is the later.

(5) For subsections (3)(a) and (4)(a), the following period is specified—
(a) if the applicable instrument is a conveyance on sale—6 months after the date of that instrument; or
(b) if the applicable instrument is an agreement for sale—6 months after the date of the conveyance on sale

executed in conformity with the agreement for sale.
(6) For the definitions of applicable instrument and original property in subsection (1), a car parking space is

permitted for the parking of 1 motor vehicle unless any of the following provides that the parking space may be
used, at any time during the term of the Government lease in respect of the parking space or during the term of
the Government lease that has been agreed for in respect of the parking space (as is appropriate), for the parking
of more than 1 motor vehicle—
(a) a Government lease or an agreement for a Government lease;
(b) a deed of mutual covenant, within the meaning of section 2 of the Building Management Ordinance (Cap

344);
(c) an occupation permit issued under section 21 of the Buildings Ordinance (Cap 123);
(d) any other instrument which the Collector is satisfied effectively restricts the permitted user of the parking



Cap 117 - Stamp Duty Ordinance 59

space.

Section: 29DG Further ad valorem stamp duty payable on failure to

complete disposal of residential property in certain
circumstances

14 of 2014 23/02/2013



(1) In this section—
applicable instrument (適用文書) means an instrument—

(a) under which a residential property (whether or not together with a car parking space permitted for the
parking of 1 motor vehicle) is acquired; and

(b) on which stamp duty had been paid—
(i) according to Scale 2 of head 1(1) in the First Schedule because of the operation of section 29AJ,

29AK, 29AO(1) to (3), or 29AP(1) to (3); or
(ii) according to Scale 2 of head 1(1A) in the First Schedule because of the operation of section 29BB,

29BC, 29BG(1) to (3), or 29BH(1) to (3);
original property (原物業), in relation to a person who acquires a subject property under an applicable instrument,

means another residential property (whether or not together with a car parking space permitted for the parking of
1 motor vehicle) of which the person is a beneficial owner before that acquisition;

specified amount (指明款項) means—
(a) for an applicable instrument on which stamp duty had been paid according to Scale 2 of head 1(1) in the

First Schedule—an amount equal to the difference between the stamp duty paid and the stamp duty that
would have been payable on that instrument if it were chargeable under Scale 1 of head 1(1) in the First
Schedule; or

(b) for an applicable instrument on which stamp duty had been paid according to Scale 2 of head 1(1A) in the
First Schedule—an amount equal to the difference between the stamp duty paid and the stamp duty that
would have been payable on that instrument if it were chargeable under Scale 1 of head 1(1A) in the First
Schedule;

subject property (標的物業) means the residential property, or the residential property and car parking space,
acquired under an applicable instrument.

(2) This section applies if—
(a) a person has disposed of an original property under an agreement for sale (original agreement) before the

person acquires a subject property under an applicable instrument;
(b) had that original property not been disposed of before the subject property was acquired, the applicable

instrument would have been chargeable with stamp duty under Scale 1 of head 1(1), or Scale 1 of head
1(1A), in the First Schedule;

(c) after that acquisition, the original agreement is cancelled, annulled or rescinded or is otherwise not
performed in circumstances that would qualify that agreement not to be regarded as one to which head
1(1A) in the First Schedule applies under section 29C(5A); and

(d) the stamp duty paid on the original agreement is refunded to the person under section 29C(5B).
(3) Despite section 4(5) and the fact that the applicable instrument may have been stamped according to section

13(1), the person is liable civilly to the Collector for the payment, within 30 days after the date the refund
mentioned in subsection (2)(d) is made, of the following—
(a) the specified amount for that instrument; and
(b) the interest on the specified amount at the rate of 4 cents per $100 or part of $100 per day for the period

beginning on the expiration of 1 month from the expiration of the time for stamping that instrument, and
ending on the date of payment of the specified amount.

(4) The Collector may remit, wholly or in part, any interest payable under subsection (3).
(5) For the definitions of applicable instrument and original property in subsection (1), a car parking space is

permitted for the parking of 1 motor vehicle unless any of the following provides that the parking space may be
used, at any time during the term of the Government lease in respect of the parking space or during the term of
the Government lease that has been agreed for in respect of the parking space (as is appropriate), for the parking
of more than 1 motor vehicle—
(a) a Government lease or an agreement for a Government lease;



Cap 117 - Stamp Duty Ordinance 60

(b) a deed of mutual covenant, within the meaning of section 2 of the Building Management Ordinance (Cap
344);

(c) an occupation permit issued under section 21 of the Buildings Ordinance (Cap 123);
(d) any other instrument which the Collector is satisfied effectively restricts the permitted user of the parking

space.

Section: 29DH Liability for underpayment of ad valorem stamp duty in

certain circumstances
14 of 2014 23/02/2013



(1) In this section—
applicable agreement (適用協議) means an instrument on which stamp duty had been paid according to Scale 2 of

head 1(1A) in the First Schedule because of the operation of section 29BB, 29BC, 29BG(1) to (3), or 29BH(1) to
(3);

applicable conveyance (適用轉易契) means an instrument on which stamp duty had been paid according to Scale 2
of head 1(1) in the First Schedule because of the operation of section 29AJ, 29AK, 29AO(1) to (3), or 29AP(1)
to (3);

specified amount (指明款項) means—
(a) for an applicable conveyance—an amount equal to the difference between the stamp duty paid on it and the

stamp duty that would have been payable if it were chargeable under Scale 1 of head 1(1) in the First
Schedule; or

(b) for an applicable agreement—an amount equal to the difference between the stamp duty paid on it and the
stamp duty that would have been payable if it were chargeable under Scale 1 of head 1(1A) in the First
Schedule.

(2) Subsection (3) applies to the transferee, or each of the transferees, who acquires a residential property (whether
or not together with a car parking space permitted for the parking of 1 motor vehicle) under an applicable
conveyance if the Collector expresses an opinion under section 13 that—
(a) if stamp duty had been paid on the conveyance according to Scale 2 of head 1(1) in the First Schedule

because of the operation of section 29AJ—the conveyance should have been chargeable with stamp duty
under Scale 1 of head 1(1) in the First Schedule because section 29AJ(1)(b) was not satisfied;

(b) if stamp duty had been paid on the conveyance according to Scale 2 of head 1(1) in the First Schedule
because of the operation of section 29AK—the conveyance should have been chargeable with stamp duty
under Scale 1 of head 1(1) in the First Schedule because section 29AK(1)(b) was not satisfied;

(c) if stamp duty had been paid on the conveyance according to Scale 2 of head 1(1) in the First Schedule
because of the operation of section 29AO(1) to (3)—the conveyance should have been chargeable with
stamp duty under Scale 1 of head 1(1) in the First Schedule because section 29AO(2) and (3) was not
satisfied; or

(d) if stamp duty had been paid on the conveyance according to Scale 2 of head 1(1) in the First Schedule
because of the operation of section 29AP(1) to (3)—the conveyance should have been chargeable with
stamp duty under Scale 1 of head 1(1) in the First Schedule because section 29AP(2) and (3) was not
satisfied.

(3) Despite section 4(3) and paragraph (C) in head 1(1) in the First Schedule, the transferee or transferees under the
conveyance—
(a) is liable, or are jointly and severally liable, civilly to the Collector for the payment of the specified amount

for the conveyance and any penalty payable under section 9; and
(b) (if there is more than one transferee) may be proceeded against without reference to any civil liability of

those transferees inter se for the payment of the specified amount and penalty.
(4) Subsection (5) applies to the purchaser, or each of the purchasers, who acquires a residential property (whether

or not together with a car parking space permitted for the parking of 1 motor vehicle) under an applicable
agreement if the Collector expresses an opinion under section 13 that—
(a) if stamp duty had been paid on the agreement according to Scale 2 of head 1(1A) in the First Schedule

because of the operation of section 29BB—the agreement should have been chargeable with stamp duty
under Scale 1 of head 1(1A) in the First Schedule because section 29BB(1)(b) was not satisfied;

(b) if stamp duty had been paid on the agreement according to Scale 2 of head 1(1A) in the First Schedule



Cap 117 - Stamp Duty Ordinance 61

because of the operation of section 29BC—the agreement should have been chargeable with stamp duty
under Scale 1 of head 1(1A) in the First Schedule because section 29BC(1)(b) was not satisfied;

(c) if stamp duty had been paid on the agreement according to Scale 2 of head 1(1A) in the First Schedule
because of the operation of section 29BG(1) to (3)—the agreement should have been chargeable with stamp
duty under Scale 1 of head 1(1A) in the First Schedule because section 29BG(2) and (3) was not satisfied;
or

(d) if stamp duty had been paid on the agreement according to Scale 2 of head 1(1A) in the First Schedule
because of the operation of section 29BH(1) to (3)—the agreement should have been chargeable with stamp
duty under Scale 1 of head 1(1A) in the First Schedule because section 29BH(2) and (3) was not satisfied.

(5) Despite section 4(3) and paragraph (C) in head 1(1A) in the First Schedule, the purchaser or purchasers under
the agreement—
(a) is liable, or are jointly and severally liable, civilly to the Collector for the payment of the specified amount

for the agreement and any penalty payable under section 9; and
(b) (if there is more than one purchaser) may be proceeded against without reference to any civil liability of

those purchasers inter se for the payment of the specified amount and penalty.
(6) For subsections (2) and (4), a car parking space is permitted for the parking of 1 motor vehicle unless any of the

following provides that the parking space may be used, at any time during the term of the Government lease in
respect of the parking space or during the term of the Government lease that has been agreed for in respect of the
parking space (as is appropriate), for the parking of more than 1 motor vehicle—
(a) a Government lease or an agreement for a Government lease;
(b) a deed of mutual covenant, within the meaning of section 2 of the Building Management Ordinance (Cap

344);
(c) an occupation permit issued under section 21 of the Buildings Ordinance (Cap 123);
(d) any other instrument which the Collector is satisfied effectively restricts the permitted user of the parking

space.

Part:
Division:

IIIA
7

Miscellaneous Provisions 14 of 2014 23/02/2013



(Added 14 of 2014 s. 24)

Section: 29E (Repealed 14 of 2014 s. 25) 14 of 2014 23/02/2013




Section: 29F Voluntary chargeable agreements for sale E.R. 2 of 2014 10/04/2014


(1) Any chargeable agreement for sale operating as a voluntary agreement inter vivos shall be chargeable with
stamp duty as a chargeable agreement for sale, with the substitution of the value of the immovable property
subject to the agreement for the amount or value of the consideration for the agreement.

(2) A chargeable agreement for sale operating as a voluntary agreement inter vivos is not duly stamped unless the
Collector has stamped the instrument under section 13(3)(b).

(3) Any chargeable agreement for sale (not being an agreement made in favour of a purchaser or incumbrancer or
other person in good faith and for valuable consideration) shall for the purposes of this Ordinance be deemed to
be a chargeable agreement for sale operating as a voluntary agreement inter vivos, and (except where marriage is
the consideration) the consideration for any agreement for sale shall not for this purpose be deemed to be
valuable consideration where-
(a) the amount of the consideration is not ascertained at the time of the agreement; or
(b) the Collector is of opinion that by reason of the inadequacy of the amount or value of the consideration paid

or to be paid or other circumstances the agreement for sale confers a substantial benefit on the purchaser.
(4) Nothing in this section shall apply to a chargeable agreement for sale made for nominal consideration for the

purpose of securing the repayment of an advance or loan, and this subsection shall have effect only if the
circumstances exempting the agreement from charge under this section are set forth in the agreement.
(Amended 33 of 1998 s. 9)





Cap 117 - Stamp Duty Ordinance 62


Section: 29G Certificate with reference to certain agreements for sale E.R. 2 of 2014 10/04/2014


(1) References in head 1(1A) in the First Schedule to an agreement for sale being certified at a particular amount
mean that such agreement for sale contains a statement certifying that the transaction agreed to, or effected by,
the instrument does not form part of a larger transaction or series of transaction in respect of which the amount
or value, or aggregate amount or value, of the consideration exceeds that amount.

(2) In subsection (1) a reference to the amount or value of the consideration shall be construed in relation to stamp
duty chargeable on a chargeable agreement for sale operating as a voluntary agreement inter vivos as a reference
to the value of the immovable property subject to the agreement.



Section: 29H Exemptions and relief E.R. 2 of 2014 10/04/2014


(1) This Part and the First Schedule do not apply to an agreement for sale or an unwritten sale agreement-
(a) made in favour of the Government or an incorporated public officer within the meaning of section 38;

(Amended 12 of 1999 s. 3)
(b) of exempted premises under which agreement the purchaser is an exempted person, within the meaning of

section 38; (Amended 40 of 1992 s. 3)
(c) to which the Hong Kong Housing Authority or a person nominated by the Hong Kong Housing Authority is

a party; or
(d) which is made with the consent of the Hong Kong Housing Authority.

(2) Section 43(1) applies to a chargeable agreement for sale in the same manner as it applies to a conveyance on
sale.

(3) If a conveyance on sale executed in conformity with a chargeable agreement for sale would not, by virtue of
section 45, be chargeable with stamp duty under head 1(1) in the First Schedule- (Amended 14 of 2014 s. 26)
(a) the agreement for sale is not chargeable with stamp duty under head 1(1A), (1B) and (1C) in the First

Schedule; and (Amended 14 of 2011 s. 11; 2 of 2014 s. 14)
(b) section 45(3) and (5A) applies to the agreement for sale in the same manner as it applies to a conveyance on

sale.

Section: 29I (Repealed L.N. 90 of 1999 and 44 of 1999 s. 21) L.N. 90 of 1999;

44 of 1999
01/04/1999





Part: IV Unit Trusts E.R. 2 of 2014 10/04/2014


(*Format changes—E.R. 2 of 2014)
________________________________________________________________________
Note:
* The format of Part IV has been updated to the current legislative styles.

Section: 30 Interpretation of Part IV E.R. 2 of 2014 10/04/2014


(1) (Omitted as spent—E.R. 2 of 2014)
(2) In this Part-
certificate to bearer (不記名證明書), in relation to a unit under a unit trust scheme, means a document by the

delivery of which the unit can be transferred;
trust instrument (信託文書), in relation to a unit trust scheme, means the trust deed or other instrument (whether

under seal or not) creating or recording the trusts by virtue of which persons are to participate in such scheme;
trust property (信託財產), in relation to a unit trust scheme, means property subject to the trusts of the trust

instrument;
unit (單位), in relation to a unit trust scheme, means a right or interest (whether described as a unit, as a sub-unit or



Cap 117 - Stamp Duty Ordinance 63

otherwise) of a beneficiary under the trust instrument;
unit trust scheme (單位信託計劃) means any arrangements made for the purpose, or having the effect, of providing,

for persons having funds available for investment, facilities for the participation by them, as beneficiaries under
a trust, in any profits or income arising from the acquisition, holding, management or disposal of any property
whatsoever.

(3) Where a person authorizes or requires the trustees or managers under a unit trust scheme to treat him as no
longer interested in a unit under that scheme and authorizes or requires them to treat another person as entitled to
that unit, he shall be deemed for the purposes of this Ordinance to transfer that unit, and any instrument whereby
he gives the authority or makes the requirement or any other instrument expressed to be substituted therefor by
the managers with the approval of the Collector shall be deemed for those purposes to be a transfer operating as
a voluntary disposition inter vivos under section 27(4) or a transfer by way of sale falling within head 2(4) in the
First Schedule according to the nature of the transaction as between him and the person whom he authorizes or
requires the trustees or managers to treat as entitled to the unit. (Amended 77 of 1981 s. 7)

(4) Where a person authorizes or requires the trustees or managers under a unit trust scheme to treat him as no
longer interested in a unit under that scheme and does not authorize or require them to treat another person as
entitled to that unit, he shall be deemed for the purposes of this Ordinance to transfer that unit to the managers
by way of sale, and any instrument whereby he gives the authority or makes the requirement or any other
instrument expressed to be substituted therefor by the managers with the approval of the Collector shall be
deemed for those purposes to be a transfer falling within head 2(4) in the First Schedule. (Amended 77 of 1981
s. 7)

(5) Where the managers under a unit trust scheme authorize or require the trustees under that scheme to treat a
person as entitled to a unit thereunder and their power so to do arises from a previous transfer to them of that
unit or some other unit, they shall be deemed for the purposes of this Ordinance to transfer the first-mentioned
unit to that person by way of sale, and any instrument whereby they give the authority or make the requirement
or any other instrument expressed to be substituted therefor by the managers with the approval of the Collector
shall be deemed for those purposes to be a transfer falling within head 2(4) in the First Schedule; but this
subsection does not apply to anything done by the managers for the purpose merely of recognizing or giving
effect to a transmission of a unit by operation of law. (Amended 77 of 1981 s. 7)


Section: 31 Duty of trustees and managers to keep records E.R. 2 of 2014 10/04/2014


(1) The trustees of a unit trust scheme shall keep a record showing the number of units under the scheme
representing the trust property, and from time to time as soon as any change occurs in the amount of such
property they shall enter in the record the alteration in the number consequential on such change.

(2) The managers of a unit trust scheme shall keep a record showing-
(a) the number of units to which they become entitled in consequence of any addition to the trust property and

the date on which they become so entitled; and
(b) where any units are extinguished, the number of units extinguished and the date of extinction.


Section: 32 Numbering and preservation of certificates and

instruments of transfer
E.R. 2 of 2014 10/04/2014



(1) Every registered certificate and every certificate to bearer in respect of units under a unit trust scheme shall
before issue be given a serial number by the trustees of the scheme and, when surrendered by the holder, shall be
preserved by the trustees in such a manner as to enable reference to be made readily thereto.

(2) Every instrument of transfer in respect of units under a unit trust scheme shall, when delivered to the trustees of
the scheme, be preserved by the trustees in such a manner as to enable reference to be made readily thereto.


Section: 33 Register of holders of registered units E.R. 2 of 2014 10/04/2014


The trustees of a unit trust scheme shall keep a register of the holders of registered units under the scheme and shall
enter therein the following particulars-

(a) the name and address of each person who holds any units under the scheme, the serial number of the
certificate or certificates representing the units held by each such person and the number of units to which



Cap 117 - Stamp Duty Ordinance 64

each such certificate relates;
(b) the date or dates on which each such person became the holder of any units and the number of units of

which he became the holder on each such date, and-
(i) where he became the holder by virtue of an instrument of transfer, or in consequence of the surrender

of a certificate to bearer, a sufficient reference to enable the instrument or certificate to be readily
produced;

(ii) where he became entitled to the units by operation of law, particulars of the name of the person from
whom the right to such units was transmitted to him, and of the circumstances in which it was so
transmitted or a sufficient reference to some other record kept by the trustees containing those
particulars;

(c) where any person has ceased to hold any units, the date or dates at which he ceased to hold them, and-
(i) where he so ceased by virtue of an instrument of transfer, or in consequence of the issue of a certificate

to bearer, a sufficient reference to the instrument of transfer to enable it to be readily produced or, as
the case may be, a note of the serial number of the certificate to bearer;

(ii) where his right to any units has been transmitted to another person by operation of law, particulars of
the name of that person, and of the circumstances in which it was so transmitted, or a sufficient
reference to some other record kept by the trustees containing those particulars.


Section: 34 Register of certificates to bearer E.R. 2 of 2014 10/04/2014


(1) Where any units under a unit trust scheme are represented by a certificate to bearer, the trustees of the scheme
shall enter in a separate part of the register referred to in section 33, or in a separate register, the following
particulars-
(a) the fact of the issue of the certificate and the serial number of the certificate;
(b) the number of units included in the certificate; and
(c) the date of the issue of the certificate.

(2) Upon the surrender and cancellation of any certificate to bearer, a note of the date of surrender shall be added to
the entry.


Section: 35 Form and period of preservation of records E.R. 2 of 2014 10/04/2014


(1) Registers or records required under this Part may be kept by recording the matters in question-
(a) in bound books or any other legible form; or
(b) otherwise than in a legible form so long as the recording is capable of being reproduced in a legible form,
but where any such register or record is kept otherwise than by making entries in a bound book, adequate
precautions shall be taken for guarding against falsification and facilitating its discovery.

(2) Unless the register kept under section 33 is in such a form as to constitute in itself an index, the trustees of the
scheme shall keep in a convenient form an index of the names of the holders.

(3) The registers, statements and other records and documents referred to in this Part shall be preserved during the
life of the trust scheme and for a period of not less than 1 year thereafter, but nothing in this Part shall require
instruments of transfer or registered certificates or certificates to bearer to be preserved for a period exceeding 6
years from the date on which they were finally delivered to the trustees of the scheme.


Section: 36 Restriction on registration of transfer of units E.R. 2 of 2014 10/04/2014


Notwithstanding anything in the trust instrument of a unit trust scheme, the trustees or managers under the scheme
shall not register a transfer of units thereunder unless an instrument of transfer has been delivered to them; but nothing
in this section shall prejudice any power of the trustees or managers to register as entitled to a unit any person to
whom the right to that unit has been transmitted by operation of law.

Section: 37 Penalty E.R. 2 of 2014 10/04/2014


Any person who-
(a) being a trustee of a unit trust scheme fails to comply with any of the provisions of section 31(1), 32, 33, 34,



Cap 117 - Stamp Duty Ordinance 65

35(2) or (3), or 36;
(b) being a manager of a unit trust scheme fails to comply with any of the provisions of section 31(2), 35(3) or

36,
shall incur a penalty at level 2 which shall be recoverable by the Collector as a civil debt due to the Government.

(Amended 70 of 1994 s. 5; L.N. 338 of 1995; 12 of 1999 s. 3)

Part: V Exemption and Relief E.R. 2 of 2014 10/04/2014


(*Format changes—E.R. 2 of 2014)
________________________________________________________________________
Note:
* The format of Part V has been updated to the current legislative styles.

Section: 38 Interpretation of Part V E.R. 2 of 2014 10/04/2014


Remarks:
For the saving and transitional provisions relating to the amendments made by the Resolution of the Legislative
Council (L.N. 130 of 2007), see paragraph (12) of that Resolution.


In this Part-
exempted institution (獲豁免機構) means a charitable institution or trust of a public character which is exempt from

tax under section 88 of the Inland Revenue Ordinance (Cap 112);
exempted person (獲豁免人) means any person in respect of whom the Chief Secretary for Administration has issued

a certificate under section 43(3)(b); (Amended L.N. 362 of 1997)
exempted premises (獲豁免處所) means any premises in respect of which the Chief Secretary for Administration

has issued a certificate under section 43(3)(a); (Added 40 of 1992 s. 4. Amended L.N. 362 of 1997)
incorporated public officer (公職人員法團) means any of the following-

(a) The Financial Secretary Incorporated (Cap 1015); (Amended L.N. 180 of 1985)
(b) Permanent Secretary for Education Incorporated (Cap 1098); (Amended 3 of 2003 s. 21; L.N. 130 of 2007)
(c) The Director of Social Welfare Incorporated (Cap 1096);
(d) The Secretary for Home Affairs Incorporated (Cap 1044). (Amended 61 of 1984 s. 5; L.N. 190 of 1986;

L.N. 263 of 1989)
(Amended 40 of 1992 s. 4; 12 of 1999 s. 3)


Section: 39 Instruments generally exempted E.R. 2 of 2014 10/04/2014


The following instruments shall not be chargeable with stamp duty under this Ordinance-
(a) all instruments duly stamped under the stamp regulations enforced by the Japanese in Hong Kong between

26 November 1942 and 1 September 1945;
(b) all conveyances on sale to the Government or an incorporated public officer; (Amended 12 of 1999 s. 3)
(c) all grants by the Government and all Government leases and all surrenders of such grants and leases;

(Amended 12 of 1999 s. 3)
(d) all instruments executed by the Housing Authority for the purposes of the Housing Ordinance (Cap 283)

other than a conveyance on sale executed for the purposes of section 17A thereof;
(e) (Repealed 78 of 1999 s. 7)
(ea) (Repealed 78 of 1999 s. 7)
(f) all conveyances on sale of exempted premises to an exempted person; (Amended 40 of 1992 s. 5)
(g) all instruments exempted under section 125 of the Bankruptcy Ordinance (Cap 6), or section 281 of the

Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap 32). (Amended 28 of 2012 ss.
912 & 920)


Section: 40 Instruments specially exempted E.R. 2 of 2014 10/04/2014


(1) In the case of any instrument in respect of which, by virtue of section 41 or 43(1), no person is liable for the



Cap 117 - Stamp Duty Ordinance 66

payment of stamp duty chargeable thereon, the instrument shall not be chargeable with stamp duty if, but only if,
it is presented to the Collector for stamping.

(2) Any instrument presented to the Collector under this section, and any duplicate or counterpart of such
instrument, shall, without payment of an adjudication fee and notwithstanding section 13(4), be stamped under
subsection (3)(a) of that section to the effect that it is not chargeable with stamp duty, and subsection (6) of that
section shall apply accordingly. (Amended 21 of 2003 s. 16)


Section: 41 Non-liability of Government or public officer for payment

of stamp duty
E.R. 2 of 2014 10/04/2014



(1) Notwithstanding section 4(3), the Central People's Government, the Government or any incorporated public
officer or any person acting in his capacity as a public officer shall not be liable for the payment of stamp duty
chargeable on any instrument or any penalty payable in respect thereof under section 9. (Amended 12 of 1999 s.
3)

(2) Subsection (1) does not apply to-
(a) any public officer acting in his capacity as-

(i) Official Administrator;
(ii) Official Receiver;
(iii) Official Trustee; or
(iv) liquidator; or

(b) any public officer acting in pursuance of any order of any court.

Section: 42 Relief in case of certain leases etc. to Government E.R. 2 of 2014 10/04/2014


(1) This section applies to a lease or agreement for a lease (other than an instrument to which section 39 applies)
made between-
(aa) the Central People's Government, or any person acting on behalf of the Central People's Government;

(Added 12 of 1999 s. 3)
(a) the Government, or any person acting on behalf of the Government; or
(b) an incorporated public officer,
and any other person (the other party) not being a person to whom section 43(1) applies.

(2) Every instrument to which this section applies shall, for the purposes of this Ordinance, be deemed to contain a
provision whereby the other party undertakes to pay 50 per cent of the stamp duty chargeable on such
instrument; and payment of that amount under a provision deemed by virtue of this section to be contained in an
instrument shall be deemed to constitute payment of the stamp duty chargeable on the instrument.


Section: 43 Relief in case of certain leases etc. of consular premises E.R. 2 of 2014 10/04/2014


(1) Where an exempted person or a person acting on behalf of an exempted person is a party to any instrument being
a lease, agreement for a lease or conveyance on sale of exempted premises, the exempted person or any person
acting on behalf of the exempted person shall not be liable for the payment of stamp duty chargeable on such
instrument or any penalty payable in respect thereof under section 9. (Amended 61 of 1984 s. 5; 18 of 1985 s. 5;
44 of 1985 s. 7; 36 of 1989 s. 5)

(2) Every lease or agreement for a lease (other than an instrument to which section 39 applies) made in respect of
exempted premises between an exempted person, or a person acting on behalf of an exempted person, and any
other person (other than the Central People's Government, the Government, an incorporated public officer or an
exempted person) shall be deemed to contain a provision whereby such other person undertakes to pay 50 per
cent of the stamp duty chargeable on such instrument; and payment of that amount under a provision deemed by
virtue of this subsection to be contained in an instrument shall be deemed to constitute payment of the stamp
duty chargeable on the instrument. (Amended 61 of 1984 s. 5; 18 of 1985 s. 5; 44 of 1985 s. 7; 36 of 1989 s. 5;
12 of 1999 s. 3)

(3) The Chief Secretary for Administration may certify- (Amended L.N. 362 of 1997)
(a) (i) in respect of premises which are exempt from taxation under the Consular Relations Ordinance (Cap

557), that such premises are exempted premises for the purposes of this Part; (Amended 16 of 2000 s.
13)



Cap 117 - Stamp Duty Ordinance 67

(ii) (Repealed 81 of 1999 s. 3)
(iii) in respect of premises which are exempt from taxation under the Privileges and Immunities (Joint

Liaison Group) Ordinance (Cap 36), that such premises are exempted premises for the purposes of this
Part; (Added 18 of 1985 s. 5. Amended 44 of 1985 s. 7; 81 of 1999 s. 3)

(iv) in respect of premises which are exempt from taxation under the Privileges and Immunities
(International Committee of the Red Cross) Ordinance (Cap 402), that such premises are exempted
premises for the purposes of this Part; (Added 36 of 1989 s. 5. Amended 17 of 2000 s. 8)

(v) in respect of premises which are exempt from taxation under an order made under section 3 of the
International Organizations (Privileges and Immunities) Ordinance (Cap 558), that such premises are
exempted premises for the purposes of this Part; and (Added 17 of 2000 s. 8)

(b) (i) in respect of any diplomatic agent or consular officer within the meaning of the Consular Relations
Ordinance (Cap 557), that such person is an exempted person for the purposes of this Part; (Amended
16 of 2000 s. 13)

(ii) (Repealed 81 of 1999 s. 3)
(iii) in respect of a person to whom the Privileges and Immunities (Joint Liaison Group) Ordinance (Cap

36) applies, that such person is an exempted person for the purposes of this Part; (Added 18 of 1985 s.
5. Amended 44 of 1985 s. 7; 81 of 1999 s. 3; 17 of 2000 s. 8)

(iv) in respect of a delegate within the meaning of the Privileges and Immunities (International Committee
of the Red Cross) Ordinance (Cap 402), that such person is an exempted person for the purposes of this
Part; and (Added 36 of 1989 s. 5. Amended 17 of 2000 s. 8)

(v) in respect of a person who is exempt from taxation under an order made under section 3 of the
International Organizations (Privileges and Immunities) Ordinance (Cap 558), that such person is an
exempted person for the purposes of this Part. (Added 17 of 2000 s. 8)

(Replaced 61 of 1984 s. 5. Amended 18 of 1985 s. 5; 40 of 1992 s. 6)

Section: 44 Relief in case of gift to exempted institution E.R. 2 of 2014 10/04/2014


(1) Stamp duty under head 1(1), (1AA) or (1AAB) or 2(3) in the First Schedule shall not be chargeable on an
instrument to which this section applies. (Amended 14 of 2011 s. 12; 2 of 2014 s. 15)

(2) This section applies to the following instruments-
(a) any conveyance of immovable property operating as a voluntary disposition inter vivos where the beneficial

interest therein passes by way of gift from the person entitled to that interest to or on trust for an exempted
institution;

(b) any transfer of Hong Kong stock operating as a voluntary disposition inter vivos where the beneficial
interest therein passes by way of gift from the registered owner or transferor of the Hong Kong stock to or
on trust for an exempted institution.

(3) An instrument to which this section applies shall not be duly stamped unless it is stamped with the stamp duty
with which it would, but for this section, be chargeable or it has, in accordance with section 13, been stamped
with a particular stamp or by way of a stamp certificate, denoting either that it is not chargeable with any stamp
duty or that it is duly stamped. (Amended 21 of 2003 s. 17)


Section: 45 Relief in case of conveyance from one associated body

corporate to another
E.R. 2 of 2014 10/04/2014



(1) Stamp duty under head 1(1), (1AA) or (1AAB) or 2(1) or (3) in the First Schedule shall not be chargeable on an
instrument to which this section applies. (Amended 14 of 2011 s. 13; 2 of 2014 s. 16)

(2) Subject to subsections (4), (5), (5A) and (6), this section applies to any instrument as respects which it is shown
to the satisfaction of the Collector that the effect thereof is to convey a beneficial interest in immovable property,
or to transfer a beneficial interest in Hong Kong stock, from one associated body corporate to another, and also
applies to any instrument that is a contract note in respect of a sale or purchase of Hong Kong stock made
between one associated body corporate and another, where in each case the bodies are associated, that is to say,
one is beneficial owner of not less than 90 per cent of the issued share capital of the other, or a third such body is
beneficial owner of not less than 90 per cent of the issued share capital of each.

(3) An instrument to which this section applies and that conveys a beneficial interest in immovable property or is a
contract note shall not be duly stamped unless it is stamped with the stamp duty with which it would, but for this



Cap 117 - Stamp Duty Ordinance 68

section, be chargeable or it has, in accordance with section 13, been stamped with a particular stamp or by way
of a stamp certificate, denoting either that it is not chargeable with any stamp duty or that it is duly stamped.
(Amended 21 of 2003 s. 18)

(4) This section shall not apply to any instrument unless it is also shown to the satisfaction of the Collector that the
instrument was not executed, or the sale or purchase of the Hong Kong stock was not made, in pursuance of or
in connexion with an arrangement under which-
(a) the consideration, or any part of the consideration, for the conveyance, transfer, sale or purchase was to be

provided or received, directly or indirectly by a person other than a body corporate which at the time of the
sale or purchase, or of the execution of the conveyance or transfer, was associated within the meaning of
subsection (2) with either the transferor or the transferee (meaning respectively, the body corporate from
whom and the body corporate to whom the beneficial interest was conveyed or transferred, or the Hong
Kong stock was purchased or sold);

(b) the said interest was previously conveyed, transferred, purchased or sold, directly or indirectly, by such a
person; or

(c) the transferor and the transferee were to cease to be associated within the meaning of subsection (2) by
reason of a change in the percentage of the issued share capital of the transferee in the beneficial ownership
of the transferor or a third body corporate.

(5) Without prejudice to the generality of paragraph (a) of subsection (4), an arrangement shall be treated as within
that paragraph if it is one under which the transferor or the transferee, or a body corporate associated with either
as there mentioned, was to be enabled to provide any of the consideration, or was to part with any of it, by or in
consequence of the carrying out of a transaction or transactions involving, or any of them involving, a payment
or other disposition by a person other than a body corporate so associated.

(5A) Where a transferor and transferee, as described in subsection (4), cease to be associated as described in
subsection (4)(c) within 2 years after the date of execution of the instrument or, in the case of contract note,
within 2 years after the date on which the note was required to have been made and executed under section 19,
and relief from stamp duty has been claimed under this section-
(a) the transferor and transferee shall notify the Collector of that fact and of the date of the cessation within 30

days after the date of the cessation;
(b) (Repealed 10 of 2013 s. 30)
(c) if any relief from stamp duty has been granted by the Collector under this section, the relief is deemed to be

withdrawn subject to section 13(6) and the transferor and transferee are liable or jointly and severally liable,
as the case may be, to pay to the Collector, within 30 days after the date of the cessation, by way of stamp
duty an amount equal to the stamp duty which would have been chargeable on the instrument had relief not
been granted under this section; (Amended 10 of 2013 s. 30)

(d) if the amount referred to in paragraph (c) is not paid within the 30 days-
(i) the transferor and transferee are liable or jointly and severally liable (as the case requires) to a penalty;

and
(ii) the amount of the penalty payable after a lapse of a period of time after the 30 days is the same as that

calculated under section 9 for an instrument chargeable with stamp duty of the amount referred to in
paragraph (c) that-
(A) is not stamped before or within the time for stamping it; and
(B) is stamped after the lapse of the same period of time after the time for stamping it; and

(Replaced 10 of 2013 s. 30)
(e) the Collector may remit the whole or any part of any penalty payable under paragraph (d). (Added 10 of

2013 s. 30)
(6) The ownership referred to in subsections (2) and (4) is ownership either directly or through another body

corporate or other bodies corporate, or partly directly and partly through another body corporate or other bodies
corporate, and the Third Schedule shall apply accordingly for the purposes of this section.

(7) A person who fails to comply with subsection (5A)(a) shall incur a penalty at level 2 which shall be recoverable
by the Collector as a civil debt due to the Government. (Added 43 of 1991 s. 6. Amended 70 of 1994 s. 6; L.N.
338 of 1995; 12 of 1999 s. 3)

(Amended 43 of 1991 s. 6)




Cap 117 - Stamp Duty Ordinance 69

Section: 46 Instruments affecting immovable property made for new
Government lease or exchange to be exempt

E.R. 2 of 2014 10/04/2014



(1) Where the Director of Lands certifies that any instrument affecting any immovable property held from the
Government has been executed in compliance with his requirements for the sole purpose of enabling a
Government lease of the immovable property to be granted to the owner thereof and has been replaced by a new
instrument affecting the immovable property in the same manner as, and similar as far as possible to, the
instrument replaced, and executed immediately upon the granting of the said Government lease, then such
instruments shall be exempt from stamp duty, and the Collector shall, on production to him of the instruments so
certified, endorse on the instruments a certificate, or issue a stamp certificate, to the effect that the instruments
are by virtue of this section exempt from stamp duty.

(2) Where the Director of Lands certifies that any instrument affecting any immovable property held from the
Government has been executed in compliance with his requirements for the sole purpose of enabling the owner
of the immovable property to surrender it to the Government as consideration or part consideration for an
exchange and has been replaced by a new instrument affecting the immovable property in the same manner as,
and similar as far as possible to, the instrument replaced, and executed immediately upon the granting of the said
Government lease, then such instruments shall be exempt from stamp duty, and the Collector shall, on
production to him of the instruments so certified, endorse on the instruments a certificate, or issue a stamp
certificate, to the effect that the instruments are by virtue of this section exempt from stamp duty.

(Amended 8 of 1993 s. 3; L.N. 291 of 1993; 12 of 1999 s. 3; 21 of 2003 s. 19)

Section: 47 Instruments confirmatory of transactions during Japanese

occupation to be exempt
E.R. 2 of 2014 10/04/2014



(1) Whenever the Land Registrar certifies that in his opinion an assignment or reassignment has been made by the
appropriate parties solely for the purpose of carrying into effect a transaction or a series of transactions in respect
whereof an instrument or a series of instruments has been registered or recorded in the Japanese House
Registration Office and of effectuating by an assignment or reassignment in the form in common use in Hong
Kong the transaction or series of transactions which to him appears to have been intended to be effected by such
instrument or series of instruments, then such assignment or reassignment shall be exempt from stamp duty.
(Amended 8 of 1993 s. 3)

(2) The certificate under subsection (1) shall be endorsed upon the instrument in question, and on production of the
certificate under subsection (1) and of the instrument in question the Collector shall endorse upon the instrument
a certificate, or issue a stamp certificate, to the effect that the same is under this section exempt from stamp duty.
(Amended 21 of 2003 s. 20)

(3) This section shall not apply to any instrument executed in contravention of the Moratorium Proclamation of the
British Military Administration dated 13 September 1945.


Section: 47A Instruments of transfer of units under mandatory

provident fund schemes to be exempt
E.R. 2 of 2014 10/04/2014



(1) An instrument of transfer of a unit under a unit trust scheme is not chargeable with stamp duty if-
(a) the scheme is a constituent fund of a registered scheme;
(b) the unit is transferred by the manager of the fund to a person who is, or intends to be, a scheme member of

the registered scheme; and
(c) the power of the manager to effect the transfer arises otherwise than from a previous transfer to him of that

or some other unit.
(2) An instrument of transfer of a unit under a unit trust scheme is not chargeable with stamp duty if-

(a) the scheme is an approved pooled investment fund;
(b) the unit is transferred by the manager of the fund (fund manager) to the trustee or manager of a constituent

fund of a registered scheme; and
(c) the power of the fund manager to effect the transfer arises otherwise than from a previous transfer to him of

that or some other unit.
(3) Where a person is deemed under section 30(4) to transfer a unit under a unit trust scheme, then if-

(a) the scheme is a constituent fund of a registered scheme; and



Cap 117 - Stamp Duty Ordinance 70

(b) such deemed transfer is effected by extinguishing the unit,
the instrument that is deemed under that section to be a transfer of the unit is not chargeable with stamp duty.

(4) Where the trustee or manager of a constituent fund of a registered scheme is deemed under section 30(4) to
transfer a unit under a unit trust scheme, then if-
(a) the unit trust scheme is an approved pooled investment fund; and
(b) such deemed transfer is effected by extinguishing the unit,
the instrument that is deemed under that section to be a transfer of the unit is not chargeable with stamp duty.

(5) In this section-
approved pooled investment fund (核准匯集投資基金) has the same meaning as in section 2 of the Mandatory

Provident Fund Schemes (General) Regulation (Cap 485 sub. leg. A);
constituent fund (成分基金) has the same meaning as in section 2 of the Mandatory Provident Fund Schemes

(General) Regulation (Cap 485 sub. leg. A);
registered scheme (註冊計劃) has the same meaning as in section 2(1) of the Mandatory Provident Fund Schemes

Ordinance (Cap 485);
scheme member (計劃成員) has the same meaning as in section 2(1) of the Mandatory Provident Fund Schemes

Ordinance (Cap 485).
(Added 70 of 2000 s. 2)


Section: 47B Instruments of transfer relating to indirect allotment or

redemption of units to be exempt
E.R. 2 of 2014 10/04/2014



(1) Where a person is deemed under section 30(3) to transfer a unit under a unit trust scheme and, in relation to that
transfer, an instrument is deemed under that section to be a transfer by way of sale falling within head 2(4) in the
First Schedule, if that transfer is one to which section 19(1) does not apply by virtue of section 19(1A)(b)(ii),
that instrument is not chargeable with stamp duty.

(2) Where a person is deemed under section 30(4) to transfer a unit under a unit trust scheme, if that transfer is one
to which section 19(1) does not apply by virtue of section 19(1A)(a), the instrument that is deemed under section
30(4) to be a transfer of the unit is not chargeable with stamp duty.

(3) Where a person is deemed under section 30(5) to transfer a unit under a unit trust scheme, if that transfer is one
to which section 19(1) does not apply by virtue of section 19(1A)(b)(i), the instrument that is deemed under
section 30(5) to be a transfer of the unit is not chargeable with stamp duty.

(Added 34 of 2003 s. 7)

Part: VA Relief for Certain Transactions in relation to Specified

Alternative Bond Scheme
10 of 2013 19/07/2013


Note—
This Part provides for stamp duty relief for instruments executed in relation to the bond arrangement, or investment arrangement, in a specified
alternative bond scheme if certain conditions are met.

(This Note does not have legislative effect.)


(Part VA added 10 of 2013 s. 21)


Section: 47C Interpretation 10 of 2013 19/07/2013


(1) In this Part, subject to subsection (2), an expression specified below has the same meaning as it has in Schedule
17A to the Inland Revenue Ordinance (Cap 112)—
alternative bond (另類債券)
arrangements performed according to terms condition (按條款履行安排條件)
asset transaction between O and BU (發起人—業務實體資產交易)
bond arrangement (債券安排)
bond arrangement as financial liability condition (債券安排作金融負債條件)



Cap 117 - Stamp Duty Ordinance 71

bond-holder (持債人)
bond-issuer (發債人)
bond-issuer as conduit condition (發債人作轉付者條件)
Hong Kong connection condition (與香港關連條件)
investment arrangement (投資安排)
investment arrangement as financial liability condition (投資安排作金融負債條件)
investment return (投資回報)
maximum term length condition (最長年期條件)
originator (發起人)
reasonable commercial return condition (合理商業回報條件)
specified alternative bond scheme (指明另類債券計劃)
specified asset (指明資產)
specified asset transaction between O and BI (發起人—發債人指明資產交易)
specified investment arrangement (指明投資安排)
specified term (指明年期)

(2) For the purposes of the definitions of bond-issuer as conduit condition and reasonable commercial return
condition in subsection (1), sections 19 and 14 of Schedule 17A to the Inland Revenue Ordinance (Cap 112) are
to be read as if references to the Commissioner in those sections were references to the Collector.

(3) In this Part, an expression specified in column 1 of the Table below has the meaning given by the section
specified opposite to it in column 2 of the Table—


Table


Column 1 Column 2
Expression Section


IA disqualifying event (喪失投資安排資格事件) 47D(4)
qualified bond arrangement (合資格債券安排) 47D(1)
qualified investment arrangement (合資格投資安排) 47D(2)



Section: 47D Qualified bond arrangement, and qualified investment

arrangement, in specified alternative bond scheme
10 of 2013 19/07/2013



(1) The bond arrangement in a specified alternative bond scheme is a qualified bond arrangement at any time
(material time) if the scheme at the material time complies with, and from the commencement of the specified
term of the scheme up to the material time has always complied with—
(a) the reasonable commercial return condition;
(b) the bond arrangement as financial liability condition;
(c) the Hong Kong connection condition;
(d) the maximum term length condition; and
(e) the arrangements performed according to terms condition.

(2) Subject to subsection (3), the specified investment arrangement in a specified alternative bond scheme is a
qualified investment arrangement at any time (material time) if—
(a) the bond arrangement in the scheme at the material time is, and from the commencement of the specified

term of the scheme up to the material time has always been, a qualified bond arrangement; and
(b) the scheme at the material time complies with, and from the commencement of the specified term up to the

material time has always complied with—
(i) the bond-issuer as conduit condition; and
(ii) the investment arrangement as financial liability condition.



Cap 117 - Stamp Duty Ordinance 72

(3) Despite subsection (2) but subject to section 47H(6), an arrangement in a scheme is to be regarded (except in
relation to section 47J) as never having been a qualified investment arrangement in a specified alternative bond
scheme if an IA disqualifying event occurs in relation to the arrangement at any time during the specified term.

(4) In this section—
IA disqualifying event (喪失投資安排資格事件), in relation to an arrangement in a scheme that has been claimed

or accepted to be a qualified investment arrangement in a specified alternative bond scheme for the purposes of
determining the stamp duty (if any) with which an instrument is chargeable, means—
(a) the scheme is not a specified alternative bond scheme at any time during the specified term of the scheme;

or
(b) although the scheme is a specified alternative bond scheme at all times during the specified term of the

scheme, the scheme fails to comply with any of the conditions specified in subsection (1) or (2)(b) at any
time during the specified term.

(5) For the purposes of this section, provisions of Schedule 17A to the Inland Revenue Ordinance (Cap 112) relating
to the calculation of the investment return under a specified investment arrangement apply—
(a) in the same way in which those provisions apply to the calculation of the investment return under a

specified investment arrangement for the purposes of that Ordinance; and
(b) as if a reference to the Commissioner in those provisions were a reference to the Collector.


Section: 47E Alternative bond under qualified bond arrangement

regarded as bond
10 of 2013 19/07/2013



For the purposes of this Ordinance—
(a) the bond-holders under a qualified bond arrangement in a specified alternative bond scheme are to be

regarded as not having any legal or beneficial interest in the specified asset under the specified alternative
bond scheme; and

(b) an alternative bond issued under such a qualified bond arrangement is to be regarded as a bond to which
neither paragraph (b) nor (c) of the definition of loan capital in section 2(1) applies.


Section: 47F Relief on transactions under qualified investment

arrangement
10 of 2013; 2 of
2014

19/07/2013



(1) Subject to sections 47H, 47I and 47L, an instrument is not chargeable with stamp duty under head 1(1), 1(1AA),
1(1AAB), 1(1A), 1(1B), 1(1C), 1(2), 2(1), 2(3) or 2(4) in the First Schedule or under section 29D(2)(a) if the
requirements under subsections (2) and (3) are complied with in relation to the instrument. (Amended 2 of 2014
s. 17)

(2) It must be shown to the satisfaction of the Collector that—
(a) the instrument is executed under a qualified investment arrangement in a specified alternative bond scheme

either—
(i) to effect a transaction that is a specified asset transaction between O and BI or an asset transaction

between O and BU under that qualified investment arrangement (IA transaction); or
(ii) as an agreement for an IA transaction; or

(b) the instrument is required by this Ordinance to be made and executed for effecting an IA transaction.
(3) Security must be given to the satisfaction of the Collector for the payment of—

(a) the stamp duty that, but for this section, would have been chargeable on the instrument; and
(b) other amounts that, but for this section, would have been payable under this Ordinance.


Section: 47G Relief resulting from modification of sections 29CA and

29DA in relation to property held, or formerly held, under
qualified investment arrangement

10 of 2013 19/07/2013



(1) Sections 29CA and 29DA apply, with the modifications specified in Schedule 6, to an agreement for sale or a
conveyance on sale if it is shown to the satisfaction of the Collector that—
(a) the agreement or conveyance falls within section 1 of that Schedule; and



Cap 117 - Stamp Duty Ordinance 73

(b) the requirements under subsection (2) or (3) are complied with.
(2) If the operation of subsection (1) will result in the agreement or conveyance not being chargeable with special

stamp duty under head 1(1B) or 1(1AA) in the First Schedule, security must be given to the satisfaction of the
Collector for the payment of—
(a) the special stamp duty that, but for subsection (1), would have been chargeable on the agreement or

conveyance; and
(b) other amounts that, but for subsection (1), would have been payable under this Ordinance.

(3) If the operation of subsection (1) will result in the agreement or conveyance being chargeable with special stamp
duty under head 1(1B) or 1(1AA) in the First Schedule of an amount that is less than the amount that would have
been chargeable but for subsection (1), security must be given to the satisfaction of the Collector for the payment
of—
(a) the amount by which the special stamp duty chargeable will be reduced by the operation of subsection (1);

and
(b) the excess of the amounts (other than the special stamp duty) that, but for subsection (1), would have been

payable under this Ordinance over the amounts (other than the special stamp duty) that will be payable with
the operation of subsection (1).

(4) In this Ordinance, a reference to relief granted under this section for an agreement for sale or a conveyance on
sale is a reference to the fact that the agreement or conveyance is stamped on the basis—
(a) that the agreement or conveyance is not chargeable with special stamp duty under head 1(1B) or 1(1AA) in

the First Schedule because of subsection (1); or
(b) that the agreement or conveyance is chargeable with special stamp duty under head 1(1B) or 1(1AA) in the

First Schedule of an amount that is less than the amount that would have been chargeable, but for
subsection (1).


Section: 47H Relief granted under section 47F or 47G deemed

withdrawn
10 of 2013 19/07/2013



(1) This section applies if—
(a) a claim for relief from stamp duty has been made under section 47F or 47G for any instrument, alleging that


(i) an arrangement (alleged qualified investment arrangement) in a scheme (alleged specified ABS) is a

qualified investment arrangement in a specified alternative bond scheme; and
(ii) particular persons are respectively the originator and bond-issuer under the alleged specified ABS

(alleged originator and alleged bond-issuer); and
(b) an IA disqualifying event occurs in relation to the alleged qualified investment arrangement.

(2) If this section applies—
(a) the alleged originator and alleged bond-issuer under the alleged specified ABS must inform the Collector,

in writing, of the IA disqualifying event within 30 days after the event occurs;
(b) if any relief from stamp duty has been granted by the Collector under section 47F or 47G for the instrument,

then subject to section 13(6)—
(i) the relief is deemed to be withdrawn;
(ii) for a relief granted under section 47F, the parties to the instrument are liable or jointly and severally

liable (as the case requires) to pay to the Collector, by way of stamp duty, an amount equal to the
stamp duty that would have been chargeable on the instrument had the relief not been granted;

(iii) for a relief granted under section 47G for an instrument that is an agreement for sale or a conveyance
on sale, the vendor under the agreement or the transferor under the conveyance (as the case requires) is
liable to pay to the Collector, by way of stamp duty, an amount equal to—
(A) for an agreement or a conveyance that is not chargeable with special stamp duty because of the

relief—the special stamp duty that would have been chargeable on the agreement or conveyance
had the relief not been granted; or

(B) for an agreement or a conveyance that, because of the relief, is chargeable with special stamp
duty of an amount that is less than the amount that would have been chargeable but for the relief
—the amount by which the special stamp duty chargeable is reduced because of the relief; and



Cap 117 - Stamp Duty Ordinance 74

(iv) the amount payable under subparagraph (ii) or (iii) must be paid—
(A) within 30 days after the IA disqualifying event occurs; or
(B) if there are 2 or more IA disqualifying events, within 30 days after the earliest IA disqualifying

event occurs.
(3) If the amount payable under subsection (2)(b)(ii) or (iii) is not paid within the 30 days referred to in subsection

(2)(b)(iv)—
(a) for a relief granted under section 47F, the parties to the instrument are liable or jointly and severally liable

(as the case requires) to a penalty;
(b) for a relief granted under section 47G for an instrument that is an agreement for sale or a conveyance on

sale, the vendor under the agreement or the transferor under the conveyance (as the case requires) is liable
to a penalty; and

(c) the amount of the penalty payable under paragraph (a) or (b) after a lapse of a period of time after the 30
days referred to in subsection (2)(b)(iv) is the same as that calculated under section 9 for an instrument
chargeable with stamp duty of an amount equal to the amount payable under subsection (2)(b)(ii) or (iii)
that—
(i) is not stamped before or within the time for stamping it; and
(ii) is stamped after the lapse of the same period of time after the time for stamping it.

(4) An IA disqualifying event in relation to the alleged qualified investment arrangement is not required to be
notified under subsection (2)(a) if—
(a) either—

(i) relief from stamp duty under section 47F or 47G is denied; or
(ii) because of an earlier IA disqualifying event in relation to the alleged qualified investment

arrangement, relief granted under section 47F or 47G for an instrument on the basis referred to in
subsection (1)(a) is deemed to be withdrawn;

(b) an assessment of the stamp duty payable for the instrument has been made under section 13 or 47L; and
(c) either—

(i) the assessment has become final and conclusive under section 13(8) or 47L(3); or
(ii) the denial or deemed withdrawal of the relief has been confirmed by the court on appeal.

(5) A person who fails to comply with subsection (2)(a) incurs a penalty at level 2 which is recoverable by the
Collector as a civil debt due to the Government.

(6) Subsections (2)(b) and (3) and section 47D(3) do not apply, despite the occurrence of an IA disqualifying event
in relation to an alleged qualified investment arrangement, if—
(a) the alleged specified ABS at the time the event occurs is, and from the commencement of the specified term

of the scheme up to the time the event occurs has always been, a specified alternative bond scheme;
(b) among the conditions specified in section 47D(1) and (2)(b), the alleged specified ABS only fails to comply

with the arrangements performed according to terms condition; and
(c) the Collector disregards the non-compliance under subsection (7).

(7) For the purposes of subsection (6), the Collector may disregard a non-compliance with the arrangements
performed according to terms condition by a specified alternative bond scheme if—
(a) the non-compliance was solely constituted by a delay, of more than 30 days, in disposing of the specified

asset; and
(b) it is proved to the satisfaction of the Collector that there was a reasonable excuse for the delay.

(8) The Collector may remit the whole or any part of any penalty payable under subsection (3).

Section: 47I Instrument to be duly stamped 10 of 2013 19/07/2013


An instrument to which section 47F(1) or 47G(1) applies is not duly stamped unless—
(a) it is stamped with the stamp duty with which it would be chargeable but for section 47F or 47G; or
(b) it has, in accordance with section 13, been stamped with a particular stamp or by way of a stamp certificate,

denoting either that it is not chargeable with any stamp duty or that it is duly stamped.




Cap 117 - Stamp Duty Ordinance 75

Section: 47J Records and returns 10 of 2013 19/07/2013


(1) This section applies to a person (specified person) if relief from stamp duty is granted under section 47F or 47G
for an instrument on the basis that—
(a) an arrangement (alleged qualified investment arrangement) in a scheme (alleged specified ABS) is a

qualified investment arrangement in a specified alternative bond scheme; and
(b) the specified person is the originator or the bond-issuer under the alleged specified ABS.

(2) A specified person—
(a) must keep proper and sufficient books and records in the English or Chinese language of transactions, acts

or operations to which the alleged specified ABS relates so as to enable determinations under this
Ordinance to be made; and

(b) must retain the books and records at least until the expiry of 1 year after the end of the specified term of the
alleged specified ABS.

(3) Subsection (2) does not require a specified person to keep—
(a) any books or records that the Collector has specified as books or records that need not be kept by the

person; or
(b) any books or records of a body corporate that has ceased to exist.

(4) For the purposes of making a determination under this Ordinance, the Collector—
(a) may give notice in writing to a specified person, requiring the specified person—

(i) to furnish a return within a reasonable time stated in the notice; or
(ii) to furnish returns at any time intervals stated in the notice; and

(b) may specify in the notice—
(i) the information relating to the alleged specified ABS to be contained in the return; and
(ii) the form in which the return is to be furnished.

(5) Without limiting subsection (2) or (4), a determination under this Ordinance includes a determination as to—
(a) whether to grant relief under section 47F or 47G for an instrument on the basis referred to in subsection

(1)(a) or whether such relief is deemed to be withdrawn under section 47H; and
(b) whether an IA disqualifying event has occurred in relation to the alleged qualified investment arrangement.

(6) A person who fails to comply with subsection (2), or a requirement in a notice given under subsection (4), incurs
a penalty at level 2 which is recoverable by the Collector as a civil debt due to the Government.

(7) This section ceases to apply to a specified person in relation to the alleged qualified investment arrangement in
the alleged specified ABS if, for each instrument for which relief under section 47F or 47G has been granted to
the specified person on the basis referred to in subsection (1)—
(a) the relief is deemed to be withdrawn under section 47H;
(b) an assessment of the stamp duty payable has been made under section 47L; and
(c) either—

(i) the assessment has become final and conclusive under section 47L(3); or
(ii) the deemed withdrawal of the relief has been confirmed by the court on appeal.


Section: 47K Offence in respect of false or misleading information 10 of 2013 19/07/2013


(1) A person commits an offence if—
(a) the person, with intent to defraud the Government of any stamp duty, causes or allows—

(i) an entry to be made in the books and records kept under section 47J; or
(ii) particulars to be furnished in a return made under section 47J; and

(b) the entry or particulars are false or misleading in a material respect.
(2) A person who commits an offence under this section is liable for the fine and imprisonment specified in section

60.

Part: VB Assessment after Deemed Withdrawal of Relief 10 of 2013 19/07/2013


(Part VB added 10 of 2013 s. 22)




Cap 117 - Stamp Duty Ordinance 76

Section: 47L Assessment after deemed withdrawal of relief under
section 45 or 47H

10 of 2013 19/07/2013



(1) The Collector—
(a) may make an assessment of the stamp duty payable for an instrument under a specified liability provision,

on a person who is liable for the stamp duty; and
(b) may serve on the person a notice of the assessment by post within 7 days from the date on which the

assessment is made.
(2) If required by a person liable under a specified liability provision for the stamp duty payable for an instrument

under that provision, the Collector—
(a) must make an assessment of the stamp duty so payable for the instrument; and
(b) must serve on the person a notice of the assessment by post within 7 days from the date on which the

assessment is made.
(3) An assessment under subsection (1) or (2) is, after the expiry of 1 month from the date on which the assessment

is made, final and conclusive for all purposes as against the person, except if and to the extent to which an
appeal made against it under section 14 succeeds.

(4) If, within 1 month from the date on which an assessment is made, it appears to the Collector that the amount of
the stamp duty so assessed is excessive—
(a) the Collector may cancel the assessment and make another assessment instead as the Collector may

consider proper; and
(b) a reference in this Ordinance to an assessment includes an assessment so made instead.

(5) Subsections (1) and (2) do not relieve a person of the person’s liability to any penalty to which the person
would otherwise be liable under a specified penalty provision.

(6) A person liable for the stamp duty payable under a specified liability provision for an instrument is liable to pay
to the Collector an additional stamp duty if—
(a) an amount of stamp duty is paid purporting to be the stamp duty payable for the instrument under the

specified liability provision;
(b) the amount is less than the amount of the stamp duty so payable for the instrument as assessed by the

Collector; and
(c) the difference is not paid by the expiry of 1 month from the date on which the assessment is made.

(7) The amount of additional stamp duty payable under subsection (6) is of an amount equal to interest on the
amount of the outstanding duty at the rate of 4 cents per $100 (or part of $100) per day for the period—
(a) beginning on the expiry of 1 month from the date on which the assessment is made; and
(b) ending on the date of the full payment of the outstanding duty and additional stamp duty.

(8) Subsections (6) and (7) do not relieve a person of—
(a) the person’s liability for the payment of the outstanding duty for which the person would otherwise be

liable under a specified liability provision; or
(b) the person’s liability to any penalty to which the person would otherwise be liable under a specified

penalty provision.
(9) The Collector may remit the whole or any part of any additional stamp duty payable under subsection (7).
(10) In this section—
specified liability provision (指明法律責任條文) means—

(a) in relation to an instrument for which relief has been granted under section 45, section 45(5A)(c); or
(b) in relation to an instrument for which relief has been granted under section 47F or 47G, section 47H(2)(b);

specified penalty provision (指明罰款條文) means—
(a) if section 45(5A)(c) is the specified liability provision, section 45(5A)(d); or
(b) if section 47H(2)(b) is the specified liability provision, section 47H(3).


Part: VI Allowance for Spoiled or Unwanted Stamps, Etc.* E.R. 2 of 2014 10/04/2014


(#Format changes—E.R. 2 of 2014)
________________________________________________________________________
Note:



Cap 117 - Stamp Duty Ordinance 77

* (Amended 21 of 2003 s. 21)
# The format of Part VI has been updated to the current legislative styles.

Section: 48 Allowance for spoiled stamps and stamp certificates

rendered unfit for purpose intended
E.R. 2 of 2014 10/04/2014



(1) Subject to subsection (2) and to the production of such evidence, by statutory declaration or otherwise, as the
Collector may require, allowance shall be made by the Collector for any stamp spoiled or any stamp certificate
rendered unfit for the purpose intended in any of the following cases- (Amended 21 of 2003 s. 22)
(a) where the stamp on any material is inadvertently spoiled, obliterated or by any means rendered unfit for the

purpose intended before the material bears the signature of any person or any instrument written thereon is
executed by any party;

(b) where an adhesive stamp is inadvertently spoiled or rendered unfit for use and has not in the opinion of the
Collector been affixed to any material;

(c) where the stamp is used for, or the stamp certificate is issued in respect of, any instrument executed by any
person which- (Amended 21 of 2003 s. 22)
(i) is afterwards found to be absolutely void from the beginning;
(ii) is afterwards found to be unfit, by reason of any error or mistake therein, for the purpose originally

intended;
(iii) has not been made use of for any purpose whatever and, by reason of the inability or refusal of some

necessary party to sign the instrument or to complete the transaction according to the instrument, is
incomplete and insufficient for the purpose for which it was intended;

(iv) fails of its intended purpose, or becomes void, by reason of the refusal of any person to act under the
instrument or for want of enrolment or registration thereof within the time required by law; or

(v) is inadvertently spoiled and in lieu thereof another instrument made between the same parties and for
the same purpose is executed and duly stamped, or becomes useless in consequence of the transaction
intended to be thereby effected being effected by some other instrument duly stamped.

(2) This section shall not apply unless-
(a) the application for allowance is made within 2 years after the stamp has been spoiled or become useless or,

in the case of an instrument executed by any person, after the date of the instrument or if it is not dated
within 2 years after the execution thereof by the person by whom it was first or alone executed, or such
further time as the Collector may determine in the case of any instrument sent outside Hong Kong for
execution or where from unavoidable circumstances any instrument for which another has been substituted
cannot be produced within the said period; and (Amended 23 of 1998 s. 2)

(b) in the case of an executed instrument, no legal proceeding (other than legal proceedings in which the
question whether the instrument is void falls to be determined) has been commenced in which the
instrument could or would have been given or offered in evidence and, if the Collector so requires, the
instrument is given up to be cancelled.


Section: 49 Allowance for stamps inadvertently used and stamp

certificates inadvertently issued
E.R. 2 of 2014 10/04/2014



(1) Subject to subsections (2) and (3), where-
(a) any person has inadvertently used a stamp for, or a stamp certificate has been inadvertently issued in respect

of, an instrument chargeable with stamp duty, and the stamp duty paid was of greater value than was
necessary; or

(b) any person has inadvertently used a stamp for, or a stamp certificate has been inadvertently issued in respect
of, an instrument not chargeable with stamp duty,

the Collector may, upon application, cancel the stamp or the stamp certificate (as the case may be).
(2) An application under subsection (1) shall be made-

(a) within 2 years after the date of the instrument; or
(b) if it is not dated, within 2 years after its execution by the person by whom it was first or alone executed.

(3) An application under this section in respect of a stamp certificate inadvertently issued shall be made by the
person who can prove to the satisfaction of the Collector that the stamp duty to which the stamp certificate
relates was paid by him.



Cap 117 - Stamp Duty Ordinance 78

(4) If the Collector-
(a) cancels a stamp in respect of an instrument chargeable with stamp duty, he may, where the instrument is

stamped with a stamp denoting payment of the stamp duty chargeable on it, allow as spoiled the stamp so
used; or

(b) cancels a stamp certificate in respect of an instrument chargeable with stamp duty, he may issue a new
stamp certificate denoting payment of the stamp duty chargeable on the instrument and make an allowance
for the overpayment of stamp duty.

(5) If the Collector-
(a) cancels a stamp in respect of an instrument not chargeable with stamp duty, he may allow as spoiled the

stamp so used; or
(b) cancels a stamp certificate in respect of an instrument not chargeable with stamp duty, he may allow for the

stamp duty paid.
(6) The total allowance made in respect of a stamp or stamp certificate shall not exceed the stamp duty paid for

stamping the instrument.
(7) Where an allowance for the stamp duty paid has been made in full, the Collector shall cancel the stamp used for,

or the stamp certificate issued in respect of, the instrument.
(Replaced 21 of 2003 s. 23)


Section: 50 Allowance for unwanted adhesive stamps E.R. 2 of 2014 10/04/2014


The Collector may, upon application by any person being the purchaser of an adhesive stamp which has not been
spoiled or rendered unfit or useless for the purpose intended, make allowance to such person in respect thereof if-

(a) the adhesive stamp is delivered up to the Collector; and
(b) the Collector is satisfied that the adhesive stamp was purchased by such person-

(i) at the office of the Collector within a period of not more than 2 years preceding the application; and
(ii) with a bona fide intention to use it.


Section: 51 Manner of making, and time for taking up, allowance E.R. 2 of 2014 10/04/2014


(1) In any case in which allowance is made under this Part for a stamp, adhesive stamp or stamp certificate, the
Collector may-
(a) give in lieu of the stamp, adhesive stamp or stamp certificate-

(i) money to the value of such stamp, or to the amount of stamp duty denoted on such stamp certificate;
(ii) other stamp of the same denomination or value; or
(iii) if required and the Collector thinks proper, a stamp of any other denomination to the same value or

issue a stamp certificate denoting the same amount; or
(b) use a combination of any of the ways as provided under subsection (1)(a) to effect the allowance.

(Replaced 21 of 2003 s. 24)
(2) Any allowance made under this Part shall lapse upon the expiration of 1 year from the date on which it is made.

Part: VII Miscellaneous E.R. 2 of 2014 10/04/2014


(*Format changes—E.R. 2 of 2014)
________________________________________________________________________
Note:
* The format of Part VII has been updated to the current legislative styles.

Section: 52 Remission of stamp duty E.R. 2 of 2014 10/04/2014


(1) The Chief Executive may- (Amended 12 of 1999 s. 3)
(a) remit, wholly or in part, the stamp duty payable; or
(b) refund, wholly or in part, the stamp duty paid,
in respect of any instrument chargeable with stamp duty. (Replaced 8 of 1992 s. 5)

(2) The amount of any stamp duty remitted or refunded under this section in respect of any instrument shall for the
purposes of this Ordinance be deemed to have been paid in respect of that instrument. (Amended 8 of 1992 s. 5)



Cap 117 - Stamp Duty Ordinance 79


Section: 53 Liability for offences by bodies corporate E.R. 2 of 2014 10/04/2014


When at any time a body corporate commits an offence under this Ordinance with the consent or connivance of, or
because of neglect by, any individual, the individual commits the like offence if at that time-

(a) he is a director, manager, secretary or similar officer of the body corporate;
(b) he is purporting to act as such officer; or
(c) the body corporate is managed by its members, of whom he is one.


Section: 54 Inspection of books of account etc. E.R. 2 of 2014 10/04/2014


(1) If it appears to a magistrate upon the oath of any person that there is reason to believe that there are on any
premises any books of account or other instruments whatsoever of which any of the contents may tend to show
that an offence under this Ordinance has been committed, the magistrate may issue a search warrant authorizing
any person named in the warrant to enter such premises and to search the same and any person found thereon,
and to inspect, and to make and take away copies of, any books of account or other instruments found on such
premises or such person; and any person so authorized shall, as respects any such books kept by recording any
matters otherwise than in a legible form, be deemed to be authorized to require inspection of, and to take away, a
reproduction of the recording or of the relevant part of it in a legible form.

(2) Any copies so made shall be admissible in evidence in any proceedings under this Ordinance.
(3) No person shall obstruct any such inspection, or the making or taking away of any copy or reproduction, in any

manner whatsoever.
(4) Every person in whose possession or under whose control there may be any books of account or other

documents whatsoever which the Collector, or any person authorized thereto by him in writing, may wish to
inspect for the purposes of this Ordinance, shall afford to the Collector or to the person duly authorized by him
all reasonable facilities for such inspection and for making and taking away copies of such books of account and
documents.

(5) Where any books of account referred to in subsection (4) are kept by recording any matters otherwise than in a
legible form, the duty imposed by that subsection shall be treated as a duty to allow inspection of, and the taking
away of, a reproduction of the recording or of the relevant part of it in a legible form.

(6) Any person who contravenes subsection (3) or fails to comply with subsection (4) commits an offence.

Section: 55 Falsification E.R. 2 of 2014 10/04/2014


Any person who for the purpose of evading any stamp duty or penalty payable under this Ordinance falsifies,
mutilates or destroys any book of account or other instrument whatsoever commits an offence.

Section: 56 Offences relating to stamps E.R. 2 of 2014 10/04/2014


Any person who-
(a) fraudulently prints or impresses upon or affixes to any instrument any stamp;
(b) knowingly sells or offers or exposes for sale or utters or uses any stamp which has been fraudulently printed

or impressed;
(c) fraudulently mutilates any stamp, with intent that any use may be made of any part of such stamp;
(d) fraudulently cuts, tears or in any way removes from any instrument any stamp, with intent that any use may

be made of such stamp or any part thereof;
(e) fraudulently fixes or places upon any instrument, or upon any stamp, any stamp or part of a stamp which,

whether fraudulently or not, has been cut, torn or in any way removed from any instrument or out of or
from any other stamp;

(f) fraudulently adds to, erases or otherwise either really or apparently removes from any stamped instrument
any name, sum, date or other matter or thing whatsoever written thereon, with the intent that any use may
be made of the stamp upon such instrument;

(g) wilfully removes or attempts to remove from any adhesive stamp any cancelling marks thereon;
(h) knowingly sells or offers or exposes for sale or utters or uses any adhesive stamp from which cancelling



Cap 117 - Stamp Duty Ordinance 80

marks have been wholly or partially removed;
(i) fraudulently removes or causes to be removed from any instrument any adhesive stamp, with intent that

such adhesive stamp may be used again;
(j) fraudulently affixes to any instrument any adhesive stamp so removed, or knowingly sells or offers or

exposes for sale or utters any adhesive stamp so removed, or utters any instrument having thereon an
adhesive stamp which to his knowledge has been so removed; or

(k) knowingly, and without lawful excuse, has in his possession any stamp which has been fraudulently printed
or impressed upon or affixed to any instrument, or any stamp which has been fraudulently mutilated, or any
stamp or part of a stamp which has been fraudulently cut, torn or in any way removed from any instrument,
or any stamped instrument to or from which any name, sum, date or other matter or thing has been
fraudulently added, erased or otherwise either really or apparently removed, or any adhesive stamp from
which cancelling marks have been wholly or partially removed or which has been fraudulently removed
from any instrument,

commits an offence.

Section: 57 Power of magistrate in relation to stolen stamps E.R. 2 of 2014 10/04/2014


(1) If it appears to a magistrate upon the oath of any person that there is reason to believe that any stamps have been
stolen or fraudulently obtained and are on any premises, the magistrate may issue a warrant authorizing a police
officer to enter such premises and to search the same and any person found thereon and to seize and take away
any such stamps found on such premises or such person, and to arrest any person found on such premises in
whose possession or custody such stamps are found; and if any such person does not satisfactorily account to a
magistrate for his possession or custody of such stamps or it appears to the magistrate that such stamps were not
lawfully obtained by him such stamps shall be forfeited and delivered up to the Collector.

(2) Where stamps are seized under a warrant issued under subsection (1), the police officer authorized by the
warrant shall, if required, give to any person in whose possession or custody such stamps are found a written
acknowledgement of the number, particulars and value of such stamps and permit such stamps to be marked
before their removal.


Section: 58 Defacement of adhesive stamps E.R. 2 of 2014 10/04/2014


Any person who in any manner defaces any adhesive stamp before it is used shall incur a penalty at level 2 which
shall be recoverable by the Collector as a civil debt due to the Government: (Amended 70 of 1994 s. 7; L.N. 338 of
1995; 12 of 1999 s. 3)
Provided that any person may with the express sanction of the Collector, and in conformity with the conditions which
he may impose, write upon or otherwise appropriate an adhesive stamp before it is used for the purpose of
identification thereof.

Section: 58A Representations may be made to Collector before certain

penalties are imposed
E.R. 2 of 2014 10/04/2014



(1) Before taking any action under section 5A(4), 15(2), 19(15), 37, 45(7), 47H(5), 47J(6) or 58 against a person,
the Collector shall- (Amended 70 of 1994 s. 8; 10 of 2013 s. 31)
(a) by notice served personally or by post on that person, inform him of the grounds on which the Collector

proposes to take such action; and
(b) afford that person an opportunity of giving an explanation in writing as to why the Collector should not take

such action.
(2) The Collector shall not take any action under any of the provisions referred to in subsection (1) against a person

if the Collector is satisfied with an explanation given by that person as to why the Collector should not take such
action.

(Added 67 of 1989 s. 4)




Cap 117 - Stamp Duty Ordinance 81

Section: 58B Remission of certain penalties E.R. 2 of 2014 10/04/2014


The Collector may remit wholly or in part any penalty recoverable under section 5A(4), 15(2), 19(15), 37, 45(7),
47H(5), 47J(6) or 58.

(Added 70 of 1994 s. 9. Amended 10 of 2013 s. 32)

Section: 59 Fraudulent practices E.R. 2 of 2014 10/04/2014


Any person who practises or is concerned in any fraudulent act, contrivance or device, not specially provided for by
law, with intent to defraud the Government of any stamp duty commits an offence.

Section: 60 Punishment for offences E.R. 2 of 2014 10/04/2014


Any person who commits or attempts to commit any offence under this Ordinance shall be liable to a fine at level 6
and to imprisonment for 1 year.

(Amended L.N. 338 of 1995)

Section: 61 Limitation of time for proceedings in respect of offences E.R. 2 of 2014 10/04/2014


No criminal proceedings for an offence under this Ordinance shall be instituted after the expiration of 2 years from the
discovery of the offence by the Collector or 6 years from the commission of the offence, whichever is the earlier.

Section: 62 Responsibility for loss of or damage to instrument E.R. 2 of 2014 10/04/2014


The Government shall not be responsible for the loss of or for damage to any instrument tendered for stamping whilst
in the custody of the Collector, nor shall any officer in the office of the Collector be responsible for such loss or
damage, unless he has caused it wilfully, fraudulently or by gross negligence.

Section: 63 Regulations 4 of 2015 13/02/2015


The Financial Secretary may by regulations- (Amended 12 of 1999 s. 3; 5 of 2000 s. 4)
(a) specify the transactions or dealings in respect of Hong Kong stock that constitute jobbing business for the

purposes of this Ordinance;
(b) prescribe the procedure for stamping contract notes made and executed in respect of any jobbing business;
(c) amend the Second and the Fourth Schedules, and Schedule 8. (Amended 33 of 1998 s. 10; 4 of 2015 s. 4)


Section: 63A Amendment of First Schedule 2 of 2014 27/10/2012


The Financial Secretary may, by notice published in the Gazette, amend head 1(1AA), (1AAB), (1B) or (1C) in the
First Schedule to effect a change to the rate of stamp duty set out in that head.

(Added 2 of 2014 s. 18)

Section: 64 (Have had effect) 30/06/1997




Section: 65 (Have had effect) 30/06/1997




Section: 66 Transitional E.R. 2 of 2014 10/04/2014


(1) Any instrument duly stamped under the Stamp Ordinance (Cap 117 1978 Ed.) (in this section referred to as the
repealed Ordinance) shall, as from the commencement of this Ordinance, be deemed for all purposes to be duly
stamped under this Ordinance.

(2) Any instrument chargeable with stamp duty but not duly stamped under the repealed Ordinance shall be deemed



Cap 117 - Stamp Duty Ordinance 82

to be an instrument chargeable with stamp duty under this Ordinance; and any penalty payable under section 9 in
respect of any such instrument shall be calculated by reference to the point of time or the period of time which
would have applied if such penalty had become payable under the repealed Ordinance.

(3) Nothing in this Ordinance shall apply in respect of transactions referred to in section 19 which were entered into
prior to the commencement of this Ordinance, and the repealed Ordinance shall continue to apply in respect of
such transactions as if this Ordinance had not been enacted.

(4) Any licence issued under the repealed Stamp Duties Management Ordinance (Cap 121 1964 Ed.) in respect of
the use of a franking machine and in force immediately prior to the commencement of this Ordinance, shall be
deemed to have been issued under this Ordinance.

(5) Any assessment of stamp duty or any appeal against such assessment or any action or claim for the recovery of
any stamp duty or penalty required or commenced under the repealed Ordinance and pending or not disposed of
immediately prior to the commencement of this Ordinance, may be continued and disposed of thereafter as if it
had been required or commenced under this Ordinance.

(6) Any allowance made under the repealed Stamp Duties Management Ordinance (Cap 121 1964 Ed.) for any
stamps and not taken up before the commencement of this Ordinance may be taken up within 1 year from such
commencement and, if not so taken up, shall lapse.

(7) Any authorization given by the Collector of Stamp Revenue under section 47(4) of the repealed Ordinance and
in force immediately before the commencement of this Ordinance, shall continue to have effect as if it had been
given under section 54(4) of this Ordinance.


Section: 67 Transitional provisions for purposes of Land Titles

Ordinance




Remarks:
This section has not yet come into operation. To see the contents, please refer to 26 of 2004 in the Government of the
Hong Kong SAR Gazette.

Section: 68 Transitional provision for Stamp Duty (Amendment)

Ordinance 2011
14 of 2011 20/11/2010



If, but for this section, the time for stamping of any instrument chargeable with special stamp duty falls before the day
on which the Stamp Duty (Amendment) Ordinance 2011 (14 of 2011) was published in the Gazette*, that time for
stamping is to be replaced by a period of 30 days commencing immediately after that day.

(Added 14 of 2011 s. 14)
_______________________________________________________________________
Note:
* Date of publication in the Gazette: 30 June 2011.

Section: 69 Transitional provisions for Inland Revenue and Stamp

Duty Legislation (Alternative Bond Schemes)
(Amendment) Ordinance 2013

10 of 2013 19/07/2013



Schedule 7 sets out transitional provisions that have effect for the purposes of amendments to this Ordinance made by
the Inland Revenue and Stamp Duty Legislation (Alternative Bond Schemes) (Amendment) Ordinance 2013 (10 of
2013).

(Added 10 of 2013 s. 33)

Section: 70 Transitional provisions for Stamp Duty (Amendment)

Ordinance 2014
2 of 2014 27/10/2012



(1) In this section—
additional special stamp duty (附加額外印花稅), in relation to a relevant instrument, means the difference between


(a) the amount of special stamp duty payable on the instrument before the Amendment Ordinance was



Cap 117 - Stamp Duty Ordinance 83

published in the Gazette*; and
(b) the amount of special stamp duty payable on the instrument on the day on which the Amendment Ordinance

was published in the Gazette*;
Amendment Ordinance (《修訂條例》) means the Stamp Duty (Amendment) Ordinance 2014 (2 of 2014);
relevant instrument (有關文書) means an instrument chargeable with special stamp duty under Part 2 of head

1(1AA) or Part 2 of head 1(1B) in the First Schedule.
(2) If, but for this section, the time for stamping any relevant instrument with any additional special stamp duty

payable on the instrument begins before the day on which the Amendment Ordinance was published in the
Gazette*—
(a) that time for stamping is to be replaced by a period of 30 days commencing immediately after that day; and
(b) where before the Amendment Ordinance was published in the Gazette*, the relevant instrument had been

stamped with the special stamp duty with which it was chargeable in accordance with this Ordinance,
section 9 applies only in relation to the additional special stamp duty if it is not paid within the period
specified in paragraph (a).

(3) If, but for this section, the time for stamping any instrument chargeable with buyer’s stamp duty begins before
the day on which the Amendment Ordinance was published in the Gazette*, that time for stamping is to be
replaced by a period of 30 days commencing immediately after that day.

(Added 2 of 2014 s. 19)
_________________________________________________________________________________
Note:
* Date of publication in the Gazette : 28 February 2014.

Section: 71 Transitional provisions for Stamp Duty (Amendment) (No.

2) Ordinance 2014
14 of 2014 23/02/2013



(1) In this section—
additional stamp duty (附加印花稅)—

(a) in relation to an applicable instrument that is chargeable with stamp duty under Scale 1 of head 1(1) in the
First Schedule, means the difference between that stamp duty and the stamp duty chargeable on the
instrument under head 1(1) in the First Schedule to the pre-amended Ordinance;

(b) in relation to an applicable instrument that is chargeable with stamp duty under Scale 1 of head 1(1A) in the
First Schedule (except as provided in paragraph (c)), means the difference between that stamp duty and the
stamp duty chargeable on the instrument under head 1(1A) in the First Schedule to the pre-amended
Ordinance; and

(c) in relation to an applicable instrument that is an agreement for sale of non-residential property, means the
stamp duty chargeable on the agreement under Scale 1 of head 1(1A) in the First Schedule;

Amendment Ordinance (《修訂條例》) means the Stamp Duty (Amendment) (No. 2) Ordinance 2014 (14 of 2014);
applicable instrument (適用文書) means an instrument that is—

(a) executed on or after 23 February 2013 and before the gazettal date; and
(b) chargeable with stamp duty under Scale 1 of head 1(1), or Scale 1 of head 1(1A), in the First Schedule;

*gazettal date (刊憲日期) means the date of publication of the Amendment Ordinance in the Gazette;
pre-amended Ordinance (《未經修訂條例》) means this Ordinance as in force immediately before 23 February

2013.
(2) If, but for this section, the time for stamping an applicable instrument with any additional stamp duty payable on

the instrument begins before the gazettal date—
(a) that time for stamping is to be replaced by a period of 30 days commencing immediately after the gazettal

date; and
(b) where stamp duty had been paid on the instrument according to head 1(1) or (1A) in the First Schedule to

the pre-amended Ordinance, section 9 applies only in relation to the additional stamp duty if it is not paid
within the period specified in paragraph (a).

(3) The amendments made by the Amendment Ordinance do not apply in relation to an instrument specified in
subsection (4), and the pre-amended Ordinance continues to apply in relation to the instrument as if those
amendments had not been made.



Cap 117 - Stamp Duty Ordinance 84

(4) The following instruments are specified for the purposes of subsection (3)—
(a) an instrument that was executed before 23 February 2013;
(b) an agreement for sale that supersedes another agreement for sale made between the same parties and on the

same terms before 23 February 2013;
(c) a conveyance on sale that is executed in conformity with an agreement for sale made before 23 February

2013.
(Added 14 of 2014 s. 27)

_________________________________________________________________________________
Note:
* Date of publication in the Gazette : 25 July 2014.

Schedule: 1 4 of 2015 13/02/2015


[sections 2, 4, 5, 5A, 13, 18D, 19, 19A, 20, 29, 29A,
29AB, 29AC, 29AD, 29AE, 29AH, 29AI, 29AJ,

29AK, 29AL, 29AM, 29AN, 29AO, 29AP, 29AQ,
29AR, 29AS, 29BA, 29BB, 29BC, 29BD, 29BE,

29BF, 29BG, 29BH, 29BI, 29BJ, 29BK, 29C, 29CA,
29CB, 29CC, 29D, 29DA, 29DB, 29DC, 29DE, 29DF,

29DG, 29DH, 29G, 29H, 30, 44, 45, 47B, 47F, 47G,
63A, 70 & 71 & 2nd Schedule & Schedules 7 & 8]

(Replaced 14 of 2011 s. 15. Amended 10 of 2013 s. 34; 2 of 2014 s. 20; 14 of 2014 s. 28; 4 of 2015
s. 5)




Nature of Instrument
(A) Stamp Duty
(B) Time for stamping
(C) Persons liable

HEAD 1: IMMOVABLE PROPERTY IN HONG KONG




Agreement for Lease,
See LEASE and section 16 (Amended 14 of 2014 s. 28)



(1) CONVEYANCE ON SALE CHARGEABLE WITH AD
VALOREM STAMP DUTY (Amended 14 of 2014 s. 28)





SCALE 1—
(a) if the amount or value of the consideration does not

exceed $2000000 and the instrument is certified in
accordance with section 29 at $2000000

(A)(a) 1.5% of the
amount or value
of the
consideration


(b) if the amount or value of the consideration exceeds

$2000000 but does not exceed $2176470 and the
instrument is certified in accordance with section 29 at
$2176470

(b) $30000 plus 20%
of the amount by
which the amount
or value of the
consideration
exceeds
$2000000


(c) if the amount or value of the consideration exceeds

$2176470 but does not exceed $3000000 and the
instrument is certified in accordance with section 29 at
$3000000



(c) 3% of the amount
or value of the
consideration

(d) if the amount or value of the consideration exceeds
$3000000 but does not exceed $3290330 and the

(d) $90000 plus 20%
of the amount by



Cap 117 - Stamp Duty Ordinance 85

instrument is certified in accordance with section 29 at
$3290330

which the amount
or value of the
consideration
exceeds
$3000000


(e) if the amount or value of the consideration exceeds

$3290330 but does not exceed $4000000 and the
instrument is certified in accordance with section 29 at
$4000000



(e) 4.5% of the
amount or value
of the
consideration

(f) if the amount or value of the consideration exceeds
$4000000 but does not exceed $4428580 and the
instrument is certified in accordance with section 29 at
$4428580

(f) $180000 plus
20% of the
amount by which
the amount or
value of the
consideration
exceeds
$4000000


(g) if the amount or value of the consideration exceeds

$4428580 but does not exceed $6000000 and the
instrument is certified in accordance with section 29 at
$6000000



(g) 6% of the amount
or value of the
consideration

(h) if the amount or value of the consideration exceeds
$6000000 but does not exceed $6720000 and the
instrument is certified in accordance with section 29 at
$6720000

(h) $360000 plus
20% of the
amount by which
the amount or
value of the
consideration
exceeds
$6000000


(i) if the amount or value of the consideration exceeds

$6720000 but does not exceed $20000000 and the
instrument is certified in accordance with section 29 at
$20000000



(i) 7.5% of the
amount or value
of the
consideration

(j) if the amount or value of the consideration exceeds
$20000000 but does not exceed $21739130 and the
instrument is certified in accordance with section 29 at
$21739130

(j) $1500000 plus
20% of the
amount by which
the amount or
value of the
consideration
exceeds
$20000000


(k) in any other case

(Added 14 of 2014 s. 28)
(k) 8.5% of the

amount or value
of the
consideration


(B) 30 days after the

execution; but see



Cap 117 - Stamp Duty Ordinance 86

Note 2 to this sub-
head

(C) All parties, and all
other persons
executing; but see
Notes 2 and 7 to
this sub-head


SCALE 2— (Added 14 of 2014 s. 28)



(a) where the amount or value of the consideration does
not exceed $2000000 and the instrument is certified in
accordance with section 29 at $2000000



(A)(a) $100 (Replaced
L.N. 32 of 2007
and 13 of 2007 s.
3)


(b) where the amount or value of the consideration exceeds

$2000000 but does not exceed $2351760 and the
instrument is certified in accordance with section 29 at
$2351760



(b) $100 plus 10% of
the amount by
which the amount
or value of the
consideration
exceeds
$2000000
(Replaced L.N.
32 of 2007 and
13 of 2007 s. 3)


(c) where the amount or value of the consideration exceeds

$2351760 but does not exceed $3000000 and the
instrument is certified in accordance with section 29 at
$3000000

(c) 1.5% of the
amount or value
of the
consideration
(Replaced L.N.
32 of 2007 and
13 of 2007 s. 3)


(d) where the amount or value of the consideration exceeds

$3000000 but does not exceed $3290320 and the
instrument is certified in accordance with section 29 at
$3290320



(d) $45000 plus 10%
of the amount by
which the amount
or value of the
consideration
exceeds
$3000000
(Replaced L.N.
90 of 1999 and
44 of 1999 s. 22.
Amended L.N.
32 of 2007 and
13 of 2007 s. 3)


(e) where the amount or value of the consideration exceeds

$3290320 but does not exceed $4000000 and the
instrument is certified in accordance with section 29 at
$4000000

(e) 2.25% of the
amount or value
of the
consideration
(Replaced L.N.
90 of 1999 and
44 of 1999 s. 22.
Amended L.N.



Cap 117 - Stamp Duty Ordinance 87

32 of 2007 and
13 of 2007 s. 3)


(f) where the amount or value of the consideration exceeds

$4000000 but does not exceed $4428570 and the
instrument is certified in accordance with section 29 at
$4428570



(f) $90000 plus 10%
of the amount by
which the amount
or value of the
consideration
exceeds
$4000000
(Replaced L.N.
90 of 1999 and
44 of 1999 s. 22.
Amended L.N.
32 of 2007 and
13 of 2007 s. 3)


(g) where the amount or value of the consideration exceeds

$4428570 but does not exceed $6000000 and the
instrument is certified in accordance with section 29 at
$6000000





(g) 3% of the amount
or value of the
consideration
(Replaced L.N.
90 of 1999 and
44 of 1999 s. 22.
Amended L.N.
32 of 2007 and
13 of 2007 s. 3)


(h) where the amount or value of the consideration exceeds

$6000000 but does not exceed $6720000 and the
instrument is certified in accordance with section 29 at
$6720000

(h) $180000 plus
10% of the
amount by which
the amount or
value of the
consideration
exceeds
$6000000
(Added L.N. 90
of 1999 and 44
of 1999 s. 22.
Amended L.N.
32 of 2007 and
13 of 2007 s. 3)


(i) where the amount or value of the consideration exceeds

$6720000 but does not exceed $20000000 and the
instrument is certified in accordance with section 29 at
$20000000



(i) 3.75% of the
amount or value
of the
consideration
(Replaced L.N.
18 of 2010 and
16 of 2010 s. 4)


(j) where the amount or value of the consideration exceeds

$20000000 but does not exceed $21739120 and the
instrument is certified in accordance with section 29 at
$21739120



(j) $750000 plus
10% of the
amount by which
the amount or
value of the



Cap 117 - Stamp Duty Ordinance 88

consideration
exceeds
$20000000
(Added L.N. 18
of 2010 and 16
of 2010 s. 4)


(k) in any other case (k) 4.25% of the

amount or value
of the
consideration
(Added L.N. 18
of 2010 and 16
of 2010 s. 4)


(B) 30 days after the

execution; but see
Note 2 to this sub-
head

(C) persons executing;
but see Notes 2 and
7 to this sub-head
(Replaced 36 of
1994 s. 3. Amended
14 of 2014 s. 28)


And see sections 2, 4, 22, 23, 24, 25, 27, 28, 29, 39, 43, 44 and
45 (Amended 14 of 2014 s. 28)



Note 1A
This sub-head applies to a conveyance on sale according to
section 29AI (Added 14 of 2014 s. 28)



Note 1B
Scale 2 of this sub-head applies in relation to the stamp duty
chargeable on a conveyance on sale by which a leasehold
interest in land is transferred to, or vested in, a person by
another person (transferor) if it is shown to the satisfaction of
the Collector that the leasehold interest was acquired by the
transferor under an instrument that was stamped or chargeable
with stamp duty under sub-head (2) (Added 14 of 2014 s. 28)



Note 1C
Scale 2 of this sub-head applies in relation to the stamp duty
chargeable on a lease or an agreement for a lease if the lease
or agreement is chargeable with stamp duty as a conveyance
on sale under section 27(1) by virtue of section 27(4) (Added
14 of 2014 s. 28)



Note 1
Scale 2 of this sub-head applies in relation to the stamp duty
chargeable by reference to it by virtue of sub-head (2)(a), in a
case where part of the consideration for a lease consists of
rent, as if paragraphs (a), (b), (c), (d), (e), (f), (g), (h), (i) and
(j) in Scale 2 and the words “ in any other case” in
paragraph (k) in Scale 2 were omitted (Replaced 14 of 2014 s.
28)



Note 2
In the case of a vesting order consequential upon an order for





Cap 117 - Stamp Duty Ordinance 89

sale or partition or a foreclosure order, the time for stamping
shall be before the order is signed by the Registrar and the
persons liable shall be the persons obtaining the order
Note 3
In the case of a foreclosure order, the stamp duty chargeable
thereon shall not exceed the stamp duty which would be
chargeable thereon by reference to the value of the property to
which the order relates



Note 4
A foreclosure order shall not be duly stamped unless the
Collector has stamped it under section 13(3)(b)



Note 5
In the case of a conveyance on sale of immovable property
executed after a chargeable agreement for sale has been made
in respect of that property, this sub-head is subject to section
29D (Added 8 of 1992 s. 6. Amended 14 of 2014 s. 28)



Note 6
(Repealed 33 of 1998 s. 11)



Note 7
This sub-head is subject to sections 29DE, 29DF, 29DG and
29DH (Added 14 of 2014 s. 28)



Exchange, Instruments effecting—see sections 25(7), 29AO and 29AP
(Replaced 14 of 2014 s. 28)




(1AA) CONVEYANCE ON SALE CHARGEABLE WITH
SPECIAL STAMP DUTY


Part 1 — for residential property acquired on or after 20
November 2010 but before 27 October 2012 (Added 2 of 2014
s. 20)





(a) if the residential property is disposed of within a period of
6 months beginning on the day on which it was acquired



(A)(a) 15% of the
amount or
value of the
consideration

(b) if the residential property is disposed of within a period of
12 months beginning on the day on which it was acquired,
but after the expiry of a period of 6 months beginning on
that day



(b) 10% of the
amount or
value of the
consideration

(c) if the residential property is disposed of within a period of
24 months beginning on the day on which it was acquired,
but after the expiry of a period of 12 months beginning on
that day

(c) 5% of the
amount or
value of the
consideration

(B) The same time as
that which applies
to a conveyance
on sale specified
under sub-head (1)

(C) The same parties
as those who are
liable in respect of
a conveyance on
sale specified
under sub-head



Cap 117 - Stamp Duty Ordinance 90

(1)

Part 2—for residential property acquired on or after 27 October
2012




(a) if the residential property is disposed of within a period of
6 months beginning on the day on which it was acquired



(A)(a) 20% of the
amount or
value of the
consideration

(b) if the residential property is disposed of within a period of
12 months beginning on the day on which it was acquired,
but after the expiry of a period of 6 months beginning on
that day



(b) 15% of the
amount or
value of the
consideration

(c) if the residential property is disposed of within a period of
36 months beginning on the day on which it was acquired,
but after the expiry of a period of 12 months beginning on
that day

(Added 2 of 2014 s. 20)

(c) 10% of the
amount or
value of the
consideration

(B) The same time as
that which applies
to a conveyance
on sale specified
under sub-head
(1)

(C) The same parties
as those who are
liable in respect of
a conveyance on
sale specified
under sub-head
(1)

Note 1
This sub-head is subject to sections 29D and 29DA


Note 2

(a) If only part of the residential property is disposed of
within a period specified in the first column of this sub-
head, the special stamp duty chargeable under this sub-
head is the percentage (specified opposite to that period)
of the amount or value of the consideration for that part as
indicated by the parties to the conveyance on sale
concerned to the Collector (part consideration)





(b) If different parts of the residential property are disposed
of within different periods specified in the first column of
this sub-head, the special stamp duty chargeable in respect
of any of those parts under this sub-head is the percentage
(specified opposite to the period applicable to that part) of
the amount or value of the consideration for that part as
indicated by the parties to the conveyance on sale
concerned to the Collector (part consideration), and the
special stamp duty chargeable in respect of the property
under this sub-head is the total of the special stamp duty
chargeable in respect of those parts





Cap 117 - Stamp Duty Ordinance 91


(c) If the Collector is of the opinion that the part

consideration does not represent the value of the part
concerned, the Collector may substitute that value for the
part consideration for the purpose of the calculation of
special stamp duty chargeable under this sub-head

(Added 14 of 2011 s. 15)




(1AAB) CONVEYANCE ON SALE CHARGEABLE WITH
BUYER’S STAMP DUTY

(A) 15% of the
amount or value
of the
consideration

(B) The same time as
that which applies
to a conveyance
on sale specified
under sub-head
(1)

(C) The transferee

Note
This sub-head is subject to sections 29D, 29DB and 29DC

(Added 2 of 2014 s. 20)




(1A) AGREEMENT FOR SALE CHARGEABLE WITH AD
VALOREM STAMP DUTY (Amended 14 of 2014 s. 28)





SCALE 1—
(a) if the amount or value of the consideration does not

exceed $2000000 and the instrument is certified in
accordance with section 29G at $2000000

(A)(a) 1.5% of the
amount or value
of the
consideration


(b) if the amount or value of the consideration exceeds

$2000000 but does not exceed $2176470 and the
instrument is certified in accordance with section 29G
at $2176470

(b) $30000 plus
20% of the
amount by
which the
amount or value
of the
consideration
exceeds
$2000000


(c) if the amount or value of the consideration exceeds

$2176470 but does not exceed $3000000 and the
instrument is certified in accordance with section 29G
at $3000000



(c) 3% of the
amount or value
of the
consideration

(d) if the amount or value of the consideration exceeds
$3000000 but does not exceed $3290330 and the
instrument is certified in accordance with section 29G
at $3290330

(d) $90000 plus
20% of the
amount by
which the
amount or value
of the
consideration



Cap 117 - Stamp Duty Ordinance 92

exceeds
$3000000


(e) if the amount or value of the consideration exceeds

$3290330 but does not exceed $4000000 and the
instrument is certified in accordance with section 29G
at $4000000

(e) 4.5% of the
amount or value
of the
consideration


(f) if the amount or value of the consideration exceeds

$4000000 but does not exceed $4428580 and the
instrument is certified in accordance with section 29G
at $4428580

(f) $180000 plus
20% of the
amount by
which the
amount or value
of the
consideration
exceeds
$4000000


(g) if the amount or value of the consideration exceeds

$4428580 but does not exceed $6000000 and the
instrument is certified in accordance with section 29G
at $6000000



(g) 6% of the
amount or value
of the
consideration

(h) if the amount or value of the consideration exceeds
$6000000 but does not exceed $6720000 and the
instrument is certified in accordance with section 29G
at $6720000

(h) $360000 plus
20% of the
amount by
which the
amount or value
of the
consideration
exceeds
$6000000

(i) if the amount or value of the consideration exceeds
$6720000 but does not exceed $20000000 and the
instrument is certified in accordance with section 29G
at $20000000

(i) 7.5% of the
amount or value
of the
consideration


(j) if the amount or value of the consideration exceeds

$20000000 but does not exceed $21739130 and the
instrument is certified in accordance with section 29G
at $21739130

(j) $1500000 plus
20% of the
amount by
which the
amount or value
of the
consideration
exceeds
$20000000


(k) in any other case

(Added 14 of 2014 s. 28)
(k) 8.5% of the

amount or value
of the
consideration


(B) 30 days after the

relevant date
(within the



Cap 117 - Stamp Duty Ordinance 93

meaning of section
29B(3)); but see
Notes 2 and 3 to
this sub-head


(C) All parties except a

party who on the
relevant date
(within the
meaning of section
29B(3)) does not
know that the
agreement affects
that party, and all
other persons
executing; but see
Note 7 to this sub-
head


SCALE 2— (Added 14 of 2014 s. 28)



(a) where the amount or value of the consideration does
not exceed $2000000 and the instrument is certified in
accordance with section 29G at $2000000



(A)(a) $100 (Replaced
L.N. 32 of 2007
and 13 of 2007
s. 3)


(b) where the amount or value of the consideration exceeds

$2000000 but does not exceed $2351760 and the
instrument is certified in accordance with section 29G
at $2351760



(b) $100 plus 10% of
the amount by
which the amount
or value of the
consideration
exceeds
$2000000
(Replaced L.N.
32 of 2007 and
13 of 2007 s. 3)


(c) where the amount or value of the consideration exceeds

$2351760 but does not exceed $3000000 and the
instrument is certified in accordance with section 29G
at $3000000



(c) 1.5% of the
amount or value
of the
consideration
(Replaced L.N.
32 of 2007 and
13 of 2007 s. 3)


(d) where the amount or value of the consideration exceeds

$3000000 but does not exceed $3290320 and the
instrument is certified in accordance with section 29G
at $3290320



(d) $45000 plus 10%
of the amount by
which the amount
or value of the
consideration
exceeds
$3000000
(Replaced L.N.
90 of 1999 and
44 of 1999 s. 22.
Amended L.N.



Cap 117 - Stamp Duty Ordinance 94

32 of 2007 and
13 of 2007 s. 3)


(e) where the amount or value of the consideration exceeds

$3290320 but does not exceed $4000000 and the
instrument is certified in accordance with section 29G
at $4000000



(e) 2.25% of the
amount or value
of the
consideration
(Replaced L.N.
90 of 1999 and
44 of 1999 s. 22.
Amended L.N.
32 of 2007 and
13 of 2007 s. 3)


(f) where the amount or value of the consideration exceeds

$4000000 but does not exceed $4428570 and the
instrument is certified in accordance with section 29G
at $4428570



(f) $90000 plus 10%
of the amount by
which the amount
or value of the
consideration
exceeds
$4000000
(Replaced L.N.
90 of 1999 and
44 of 1999 s. 22.
Amended L.N.
32 of 2007 and
13 of 2007 s. 3)


(g) where the amount or value of the consideration exceeds

$4428570 but does not exceed $6000000 and the
instrument is certified in accordance with section 29G
at $6000000





(g) 3% of the amount
or value of the
consideration
(Replaced L.N.
90 of 1999 and
44 of 1999 s. 22.
Amended L.N.
32 of 2007 and
13 of 2007 s. 3)


(h) where the amount or value of the consideration exceeds

$6000000 but does not exceed $6720000 and the
instrument is certified in accordance with section 29G
at $6720000

(h) $180000 plus
10% of the
amount by which
the amount or
value of the
consideration
exceeds
$6000000
(Added L.N. 90
of 1999 and 44
of 1999 s. 22.
Amended L.N.
32 of 2007 and
13 of 2007 s. 3)


(i) where the amount or value of the consideration exceeds

$6720000 but does not exceed $20000000 and the
(i) 3.75% of the

amount or value



Cap 117 - Stamp Duty Ordinance 95

instrument is certified in accordance with section 29G
at $20000000



of the
consideration
(Replaced L.N.
18 of 2010 and 16
of 2010 s. 4)


(j) where the amount or value of the consideration exceeds

$20000000 but does not exceed $21739120 and the
instrument is certified in accordance with section 29G
at $21739120



(j) $750000 plus
10% of the
amount by which
the amount or
value of the
consideration
exceeds
$20000000
(Added L.N. 18
of 2010 and 16 of
2010 s. 4)


(k) in any other case (k) 4.25% of the

amount or value
of the
consideration
(Added L.N. 18 of
2010 and 16 of
2010 s. 4)


*(B) 30 days after the

relevant date
(within the
meaning of section
29B(3)); but see
Notes 2 and 3 to
this sub-head
(Amended L.N. 90
of 1999 and 44 of
1999 s. 22; 14 of
2011 s. 15)

(C) All parties except a
party who on the
relevant date
(within the meaning
of section 29B(3))
does not know that
the agreement
affects him, and all
other persons
executing; but see
Note 7 to this sub-
head (Replaced 36
of 1994 s. 3.
Amended 14 of
2014 s. 28)




And see section 4 and Part IIIA



Cap 117 - Stamp Duty Ordinance 96

Note 1
This sub-head applies to an agreement for sale according to
section 29BA (Replaced 14 of 2014 s. 28)



Note 1A
Scale 2 of this sub-head applies in relation to the stamp duty
chargeable on an agreement for sale if it is shown to the
satisfaction of the Collector that-



(a) the agreement is an instrument which, if implemented,
would be implemented by a conveyance on sale; and

(b) the conveyance on sale would, by the operation of Note
1B to sub-head (1), be chargeable with stamp duty under
Scale 2 of sub-head (1) (Added 14 of 2014 s. 28)



Note 2
If, within the first 14 days of the time for stamping, an
agreement for sale is superseded by another agreement for sale
made between the same parties and on the same terms, executed
in accordance with section 29B(1), and containing the matters
specified in section 29B(5)-
(aa) for the purposes of Part IIIA and this sub-head, the

second-mentioned agreement is deemed to be made on
the relevant date (within the meaning of section 29B(3));
(Added L.N. 90 of 1999 and 44 of 1999 s. 22)

*(a) notwithstanding paragraph (aa), the time for stamping
the second-mentioned agreement is not later than 30
days after it was executed; and (Amended L.N. 90 of
1999 and 44 of 1999 s. 22; 14 of 2011 s. 15)

*(b) if the second-mentioned agreement is duly stamped or
stamped under section 5(1), 13(2) or 18E(1), the
obligation to stamp any preceding agreement between
the same parties and on the same terms is discharged
(Amended L.N. 90 of 1999 and 44 of 1999 s. 22; 21 of
2003 s. 25; 14 of 2011 s. 15)



*Note 3
Subject to Note 2, if 2 or more agreements for sale are made
between the same parties and on the same terms-
(a) for the purposes of Part IIIA and this sub-head, all of the

agreements are deemed to be made on the relevant date
(within the meaning of section 29B(3)); and

(b) where any of the agreements is duly stamped or stamped
under section 5(1), 13(2) or 18E(1)- (Amended 21 of
2003 s. 25; 14 of 2011 s. 15)
(i) the other agreements are each chargeable with

stamp duty of $100; and
(ii) notwithstanding paragraph (a), the time for

stamping each of the other agreements is not
later than 30 days after it was executed
(Replaced L.N. 90 of 1999 and 44 of 1999 s. 22.
Amended 14 of 2011 s. 15)



Note 4
Where 2 agreements for sale are made in respect of the same, or
part of the same, property and involve a common purchaser (but
are not made between the same parties), this sub-head is subject
to section 29C(5)



Note 5
For the purposes of Notes 2, 3 and 4, and if the immovable





Cap 117 - Stamp Duty Ordinance 97

property concerned is residential property, 2 or more persons are
treated as the same person if, on the date of the agreement made
between those persons-
(a) they are closely related;
(b) each of them is acting on his or her own behalf; and
(c) each of them is not a beneficial owner of any other

residential property in Hong Kong (Replaced 14 of 2014
s. 28)



Note 6
(Repealed 33 of 1998 s. 11)



Note 7
This sub-head is subject to sections 29D, 29DE, 29DF, 29DG
and 29DH (Added 14 of 2014 s. 28)




(1B) AGREEMENT FOR SALE CHARGEABLE WITH SPECIAL
STAMP DUTY





Part 1—for residential property acquired on or after 20 November
2010 but before 27 October 2012 (Added 2 of 2014 s. 20)




(a) if the residential property is disposed of within a period of 6
months beginning on the day on which it was acquired



(A)(a) 15% of the
amount or
value of the
consideration

(b) if the residential property is disposed of within a period of 12
months beginning on the day on which it was acquired, but
after the expiry of a period of 6 months beginning on that day



(b) 10% of the
amount or
value of the
consideration

(c) if the residential property is disposed of within a period of 24
months beginning on the day on which it was acquired, but
after the expiry of a period of 12 months beginning on that
day

(c) 5% of the
amount or
value of the
consideration

(B) The same time
as that which
applies to an
agreement for
sale specified
under sub-head
(1A)

(C) The same
parties as those
who are liable
in respect of an
agreement for
sale specified
under sub-head
(1A)


Part 2—for residential property acquired on or after 27 October
2012





(a) if the residential property is disposed of within a period of 6
months beginning on the day on which it was acquired



(A)(a) 20% of the
amount or
value of the
consideration



Cap 117 - Stamp Duty Ordinance 98

(b) if the residential property is disposed of within a period of 12
months beginning on the day on which it was acquired, but
after the expiry of a period of 6 months beginning on that day



(b) 15% of the
amount or
value of the
consideration

(c) if the residential property is disposed of within a period of 36
months beginning on the day on which it was acquired, but
after the expiry of a period of 12 months beginning on that
day

(Added 2 of 2014 s. 20)

(c) 10% of the
amount or
value of the
consideration

(B) The same time
as that which
applies to an
agreement for
sale specified
under sub-head
(1A)

(C) The same parties
as those who are
liable in respect
of an agreement
for sale
specified under
sub-head (1A)

Note 1
This sub-head is subject to sections 29C and 29CA

Note 2
(a) If only part of the residential property is disposed of within a

period specified in the first column of this sub-head, the
special stamp duty chargeable under this sub-head is the
percentage (specified opposite to that period) of the amount
or value of the consideration for that part as indicated by the
parties to the agreement concerned to the Collector (part
consideration)


(b) If different parts of the residential property are disposed of

within different periods specified in the first column of this
sub-head, the special stamp duty chargeable in respect of any
of those parts under this sub-head is the percentage (specified
opposite to the period applicable to that part) of the amount
or value of the consideration for that part as indicated by the
parties to the agreement concerned to the Collector (part
consideration), and the special stamp duty chargeable in
respect of the property under this sub-head is the total of the
special stamp duty chargeable in respect of those parts





(c) If the Collector is of the opinion that the part consideration
does not represent the value of the part concerned, the
Collector may substitute that value for the part consideration
for the purpose of the calculation of special stamp duty
chargeable under this sub-head


Note 3
(Repealed 14 of 2014 s. 28)






Cap 117 - Stamp Duty Ordinance 99

Note 4
Notes 2, 3 and 4 to head 1(1A) apply to special stamp duty
chargeable on an agreement for sale of residential property under
this sub-head as they apply to stamp duty chargeable under head
1(1A); and for the purposes of applying those Notes to special
stamp duty, 2 or more persons are treated as the same person if they
are closely related (Replaced 14 of 2014 s. 28)

(Added 14 of 2011 s. 15)


(1C) AGREEMENT FOR SALE CHARGEABLE WITH BUYER’S
STAMP DUTY

(A) 15% of the
amount or
value of the
consideration

(B) The same time
as that which
applies to an
agreement for
sale specified
under sub-
head (1A)

(C) The purchaser
Note 1
This sub-head is subject to sections 29C, 29CB and 29CC

Note 2
(Repealed 14 of 2014 s. 28)

Note 3
Notes 2, 3 and 4 to head 1(1A) apply to buyer’s stamp duty chargeable on
an agreement for sale of residential property under this sub-head as they
apply to stamp duty chargeable under head 1(1A); and for the purposes of
applying those Notes to buyer’s stamp duty, 2 or more persons are treated
as the same person if they are closely related (Replaced 14 of 2014 s. 28)

(Added 2 of 2014 s. 20)

(2) LEASE




(a) where the consideration or any part of the consideration,
moving either to the lessor or to any other person,
consists of any money, stock or security

(A) The same duty
as on a
conveyance on
sale for the same
consideration
(see Note 1 to
sub-head (1))

(B) 30 days after
execution

(C) All parties, and
all other persons
executing


(b) where the consideration or any part of the consideration

is any rent


(i) where the term is not defined or is uncertain; (A)(i) 25 cents for
every $100 or
part thereof of



Cap 117 - Stamp Duty Ordinance 100

the yearly or
average yearly
rent

(ii) where the term specified in the lease does not
exceed one year;

(ii) 25 cents for
every $100 or
part thereof of
the total rent
payable over
the term of the
lease

(iii) where the term specified in the lease exceeds
one year but does not exceed three years;

(iii) 50 cents for
every $100 or
part thereof of
the yearly or
average yearly
rent

(iv) where the term specified in the lease exceeds
three years

(iv) $1 for every
$100 or part
thereof of the
yearly or
average yearly
rent

(B) 30 days after
execution

(C) All parties, and
all other persons
executing


(c) Lease executed in pursuance of a duly stamped

agreement for lease
(A) $3
(B) 30 days after

execution
(C) All parties, and

all other persons
executing


And see sections 2, 16, 17, 27, 39, 42 and 43

Partition, Instruments effecting-see section 25(7)
Voluntary Chargeable Agreements for Sale-see section 29F (Added 8 of
1992 s. 6)
Voluntary Disposition inter vivos - see section 27




HEAD 2: HONG KONG STOCK




(1) CONTRACT NOTE for the sale or purchase of any Hong Kong
stock not being jobbing business on every note required to be
made under section 19(1)

(A) 0.1% of the
amount of the
consideration or
of its value at the
date on which
the contract note
falls to be
executed: but see
Note to this sub-
head (Amended
18 of 1998 s. 2;
22 of 2000 s. 2;



Cap 117 - Stamp Duty Ordinance 101

22 of 2001 s. 4)
(B) 2 days after the

sale or purchase
if effected in
Hong Kong: see
section
19(1)(b)(i)
30 days after the
sale or purchase
if effected
elsewhere: see
section
19(1)(b)(ii)

(C) The agent or,
where no agent,
the principal
effecting the sale
or purchase

And see sections 2, 4, 5, 5A, 6, 19, 20, 23, 24, 27 and 45
Note
Where the consideration or any part of the consideration consists
of any security not being stock, the amount due upon such
security for principal and interest on the date on which the
contract note falls to be executed shall be taken to be its value at
that date




(2) CONTRACT NOTE in respect of jobbing business on every note
required to be made under section 19(1)

(A) $5
(B) 2 days after the

sale or purchase:
see section
19(1)(b)(i)

(C) The exchange
participant
effecting the sale
or purchase
(Amended 12 of
2000 s. 23)


And see sections 2, 4, 19 and 20

(3) TRANSFER operating as a voluntary disposition inter vivos or
made for the purpose of effectuating a transaction whereby the
beneficial interest in Hong Kong stock passes otherwise than on
sale and purchase, including a foreclosure order (Amended 33
of 1998 s. 11)

(A) $5 and 0.2% of
the value of the
stock; but see
Note 4 to this
sub-head
(Amended 18 of
1998 s. 2; 22 of
2000 s. 2; 22 of
2001 s. 4; 4 of
2015 s. 5)

(B) 7 days after
execution or, if
executed
elsewhere than
in Hong Kong,
30 days after



Cap 117 - Stamp Duty Ordinance 102

execution; but
see Note 1 to this
sub-head

(C) The transferor
and the
transferee; but
see Note 1 to this
sub-head

And see sections 4, 19, 27, 28, 30, 44 and 45
Note 1
In the case of a foreclosure order, the time for stamping shall be
before the order is signed by the Registrar and the persons liable
shall be the persons obtaining the order



Note 2
In the case of a foreclosure order, the stamp duty chargeable
thereon shall not exceed the stamp duty which would have been
chargeable thereon by reference to the amount of the debt to
which the order relates



Note 3
A foreclosure order shall not be duly stamped unless the
Collector has stamped it under section 13(3)(b)
Note 4
Stamp duty under this sub-head is not payable on a transfer
specified in Part 3 of Schedule 8 (Added 4 of 2015 s. 5)




(4) TRANSFER of any other kind (A) $5; but see Notes
1 and 2 to this
sub-head
(Amended 4 of
2015 s. 5)

(B) Before execution
or, if executed
elsewhere than
in Hong Kong,
30 days after
execution

(C) The transferor
and the
transferee

And see sections 5, 7, 19, 30, 47A and 47B (Amended 70 of
2000 s. 3; 34 of 2003 s. 8)



Note 1
No stamp duty under this sub-head shall be payable on a transfer
executed by a recognized clearing house (within the meaning of
section 19(16)) or its nominee-



(a) as the transferor of the Hong Kong stock; and
(b) in accordance with the rules (within the meaning of section

19(16)) of the clearing house


(Replaced 40 of 1992 s. 7. Amended 4 of 2015 s. 5)
Note 2
Stamp duty under this sub-head is not payable on a transfer
specified in Part 4 of Schedule 8

(Added 4 of
2015 s. 5)







Cap 117 - Stamp Duty Ordinance 103

HEAD 3: HONG KONG BEARER
INSTRUMENT


(1) HONG KONG BEARER INSTRUMENT issued in respect of
any stock other than-

(A) $3 per $100 or
part thereof of
market value on
issue

(a) (Repealed 43 of 1991 s. 7) (B) Before issue
(b) units in a unit trust scheme under the terms of which the

funds of the trust cannot be invested in any investment
other than loan capital

(C) The person by
whom or on
whose behalf the
instrument is
issued and any
person who acts
as the agent of
that person for
the purposes of
the issue

And see sections 2 and 5(5)
(Replaced 21 of 1986 s. 2)




(2) HONG KONG BEARER INSTRUMENT given in substitution
for a like instrument duly stamped under sub-head (1) of this
head

(A) $5
(B) Before issue
(C) The person by

whom or on
whose behalf the
instrument is
issued and any
person who acts
as the agent of
that person for
the purposes of
the issue

And see sections 2 and 5(5)

HEAD 4: DUPLICATES AND

COUNTERPARTS




DUPLICATE OR COUNTERPART of any instrument chargeable with
any stamp duty

(A) Where the stamp
duty on the
original
instrument does
not amount to
$5, the same
stamp duty as on
the original; in
any other case,
$5: but see Note
to this head

(B) 7 days after
execution, or
such longer
period as the
time for
stamping the



Cap 117 - Stamp Duty Ordinance 104

original
instrument
would allow

(C) -
And see section 8
Note
If in the case of a lease or agreement for a lease the stamp duty
payable in respect thereof is limited in accordance with section
42(2) or 43(2) to 50% of the stamp duty chargeable thereon, the
stamp duty chargeable on a duplicate or counterpart thereof
shall be limited to 50% of the stamp duty otherwise chargeable
under this head



(Amended 29 of 1988 s. 2; 43 of 1991 s. 7; 85 of 1991 s. 6; 8 of 1992 s. 6; 36 of 1992 s. 3; 40 of 1992 s. 7;
L.N. 50 of 1993; 31 of 1993 s. 2)

(Format changes—E.R. 1 of 2015)
_____________________________________________________________________________
Note:
* The amendments made by L.N. 90 of 1999 and Ord. No. 44 of 1999 to paragraph (B), Note 2(a) and (b) and

Note 3 under head 1(1A) of the First Schedule shall only apply to an agreement for sale, or an unwritten
sale agreement, as defined in section 29A(1), if the relevant date within the meaning of section 29B(3) is,
in so far as such agreement for sale or unwritten sale agreement (as the case may be) is concerned, on or
after 1 April 1999.


Schedule: 2 E.R. 1 of 2015 29/01/2015


[sections 7 & 63]


Part 1


Form


STAMP DUTY ORDINANCE


(section 7)


Licence No. ..............................................
No. of machine .........................................


Licence to use a franking machine


LICENCE is hereby granted to .........................................................................................

..............................................................................................................................................

.............................................................................................................................................. (hereinafter called the
licensee) to use the above-numbered franking machine at ....................... for the purpose of stamping instruments
under section 5(4) of the Stamp Duty Ordinance in respect of stamp duty chargeable under head 2(4) in the First
Schedule to that Ordinance.

2. This licence is not transferable.


Dated the day of , 19 .


.........................................................
Collector of Stamp Revenue.


CONDITIONS



Cap 117 - Stamp Duty Ordinance 105


1. The machine shall not, except for the purpose of bringing it to the Stamp Office or with the permission of the
Collector of Stamp Revenue, be moved from the address hereinbefore specified at which it may be used.

2. The licensee shall maintain the machine in good working order to the satisfaction of the Collector of Stamp
Revenue and shall, not less than once in every 2 years and at such other times as the Collector of Stamp Revenue may
require, have the machine inspected by the agents in Hong Kong of the manufacturers.

3. The licensee shall permit the Collector of Stamp Revenue or an officer of the Stamp Office authorized in writing
by the Collector of Stamp Revenue to inspect the machine at such times as the Collector of Stamp Revenue thinks fit,
and shall, for that purpose, allow the Collector of Stamp Revenue or the officer so authorized access to the place
where the machine is kept.

4. No words, letters, or marks of any kind whatsoever, other than the stamp denoting the duty with which the
instrument is chargeable and the date of stamping, shall be stamped on any instrument by means of the machine.

5. Except with the written consent of the Collector of Stamp Revenue, the machine shall not be used to stamp any
instrument other than those connected with the business of the licensee.

6. The licensee shall, on the first day of each month (or if that day is not a working day, on the next working day),
send to the Collector of Stamp Revenue, in such form as he may direct, notice of the value of the stamps impressed by
means of the machine during the preceding month. (Amended 40 of 1992 s. 8)


Part 2


General Provisions

1. Every licence shall-

(a) be issued in respect of one franking machine only;
(b) be issued in respect of a franking machine of a type and make approved by the Collector;
(c) be not transferable.


2. Every application for a licence shall be in such form as the Collector may from time to time determine

3. The die and the colour of the stamp to be used in a franking machine shall be in accordance with such

specifications or requirements as the Collector may direct.

4. The licensee shall make payment to the Collector in respect of each setting or re-setting of the meter of the

licensed franking machine at the time of such setting or re-setting.

5. In the case of every licensed franking machine-

(a) the meter shall be set or re-set, as the case may be, by the Collector or a public officer authorized in
writing by the Collector for the purposes of section 7; and

(b) after the meter has been so set or re-set, the franking machine shall be sealed by the Collector or such
public officer with a seal approved by the Collector for the purposes of this provision.

(Format changes—E.R. 1 of 2015)

Schedule: 3 Provisions for Determining Amount of Share Capital Held

Through Other Bodies Corporate
E.R. 1 of 2015 29/01/2015



[section 45]


1. Where, in the case of a number of bodies corporate, the first directly owns share capital of the second and the
second directly owns share capital of the third, then, for the purposes of this Schedule, the first shall be deemed
to own share capital of the third through the second, and, if the third directly owns share capital of a fourth, the



Cap 117 - Stamp Duty Ordinance 106

first shall be deemed to own share capital of the fourth through the second and third, and the second shall be
deemed to own share capital of the fourth through the third, and so on.


2. In this Schedule-

(a) any number of bodies corporate of which the first directly owns share capital of the next and the next
directly owns share capital of the next but one and so on, and, if they are more than 3, any 3 or more of
them, are referred to as a series;

(b) in any series-
(i) that body corporate which owns share capital of another through the remainder is referred to as

the first owner;
(ii) that other body corporate the share capital of which is so owned is referred to as the last owned

body corporate;
(iii) the remainder, if one only, is referred to as an intermediary and, if more than one, referred to as

a chain of intermediaries;
(c) a body corporate in a series which directly owns share capital of another body corporate in the series is

referred to as an owner;
(d) any 2 bodies corporate in a series of which one owns share capital of the other directly, and not

through one or more of the other bodies corporate in the series, are referred to as being directly related
to one another.


3. Where every owner in a series owns the whole of the share capital of the body corporate to which it is directly

related, the first owner shall be deemed to own through the intermediary or chain of intermediaries the whole of
the share capital of the last owned body corporate.


4. Where one of the owners in a series owns a fraction of the share capital of the body corporate to which it is

directly related, and every other owner in the series owns the whole of the share capital of the body corporate to
which it is directly related, the first owner shall be deemed to own that fraction of the share capital of the last
owned body corporate through the intermediary or chain of intermediaries.


5. Where-

(a) each of 2 or more of the owners in a series owns a fraction, and every other owner in the series owns
the whole, of the share capital of the body corporate to which it is directly related; or

(b) every owner in a series owns a fraction of the share capital of the body corporate to which it is directly
related,

the first owner shall be deemed to own through the intermediary or chain of intermediaries such fraction of the
share capital of the last owned body corporate as results from the multiplication of those fractions.


6. Where the first owner in any series owns a fraction of the share capital of the last owned body corporate in that

series through the intermediary or chain of intermediaries in that series, and also owns another fraction or other
fractions of the share capital of the last owned body corporate, either-

(a) directly; or
(b) through an intermediary or intermediaries which is not a member or are not members of that series; or
(c) through a chain or chains of intermediaries of which one or some or all are not members of that series;

or
(d) in a case where the series consists of more than 3 bodies corporate, through an intermediary or

intermediaries which is a member or are members of the series, or through a chain or chains of
intermediaries consisting of some but not all of the bodies corporate of which the chain of
intermediaries in the series consists,

then, for the purpose of ascertaining the amount of the share capital of the last owned body corporate owned by
the first owner, all those fractions shall be aggregated and the first owner shall be deemed to own the sum of
those fractions.

(Format changes—E.R. 1 of 2015)




Cap 117 - Stamp Duty Ordinance 107

Schedule: 4 Exempted Transaction Specified for the Purposes of
Section 19(1D) of this Ordinance

E.R. 1 of 2015 29/01/2015



[sections 19(1D) & 63(c)]


1. An exempted transaction specified for the purposes of section 19(1D) of this Ordinance shall be the sale or
purchase of any specified derivative effected by an exchange participant through a recognized stock market in
the ordinary course of his business as an exchange participant, whether as principal or agent. (Amended 12 of
2000 s. 23; 5 of 2002 s. 407)


2. For the purpose of this Schedule, a recognized exchange company that operates a stock market may, by notice in

the Gazette, specify any regional stock exchange as an approved regional exchange. (Replaced 5 of 2002 s. 407)

3. In this Schedule-

approved basket stock (認可一籃子證券) means any stock forming part of a basket of stocks, where-
(a) the basket of stocks comprises-

(i) stocks listed on one or more approved regional exchanges; and
(ii) stocks listed on a recognized stock market; and (Amended 5 of 2002 s. 407)

(b) the aggregate value of the stocks referred to in paragraph (a)(ii) does not exceed 40% of the aggregate
value of all of the stocks which the basket of stocks comprises;

approved regional exchange (認可地區性交易所) means a regional stock exchange specified as an approved
regional exchange under section 2; (Added 5 of 2002 s. 407)

approved regional stock (認可地區性證券) means any stock which is listed on an approved regional
exchange; (Amended 5 of 2002 s. 407)

previous closing price (先前收市價格)-
(a) in relation to any stock listed on an approved regional exchange, means- (Amended 5 of 2002 s. 407)

(i) subject to subparagraph (ii), the previous closing price of the stock as determined in accordance
with the rules and practices of the exchange; or

(ii) where the previous closing price of the stock cannot be determined under subparagraph (i), the
closing price of the stock last quoted in the exchange;

(b) in relation to any stock listed on a recognized stock market, means the previous closing price of the
stock as determined in accordance with the rules and practices of the recognized exchange company
that operates the stock market; (Amended 5 of 2002 s. 407)

purchase (購買), sale (售賣) and sale or purchase (售賣或購買) have the meanings respectively assigned to
them in section 19 of this Ordinance;

rules (規章), in relation to-
(a) an approved regional exchange, means the rules governing the operation and management of the

approved regional exchange or the conduct of its members, by whatever name called and wherever
contained;

(b) a recognized exchange company, has the same meaning as in section 19(16) of this Ordinance;
(Replaced 5 of 2002 s. 407)

specified derivative (指明衍生工具) means any Hong Kong stock-
(a) the sale and purchase of which in Hong Kong are subject to the rules and practices of the recognized

exchange company that operates the relevant stock market; and (Amended 5 of 2002 s. 407)
(b) which is-

(i) an option which gives its holder the right, but not the obligation, to acquire or dispose of at a pre-
determined price a pre-determined number of approved regional stocks or approved basket
stocks, or to receive a payment in cash in lieu thereof, on or before a pre-determined date; or

(ii) a convertible bond or note which gives its holder the right, but not the obligation, to convert such
bond or note into stocks of the issuer of such bond or note, being either approved regional stocks
or approved basket stocks, on or before a pre-determined date;

value (價值), in relation to any stock listed on an approved regional exchange or a recognized stock market,
means the closing price of the stock as quoted in the approved regional exchange or the recognized stock



Cap 117 - Stamp Duty Ordinance 108

market, as the case may be, on the launch date of the specified derivative to which the stock relates or, if
there is no such closing price, the previous closing price of the stock by reference to that launch date.
(Amended 5 of 2002 s. 407)

(Added 33 of 1998 s. 12. Amended 5 of 2002 s. 407)
(Format changes—E.R. 1 of 2015)


Schedule: 5 Adjudication Fee E.R. 2 of 2014 10/04/2014


[sections 2 & 13]


$50
(Fifth Schedule added 5 of 2000 s. 5)

(Format changes—E.R. 2 of 2014)

Schedule: 6 Sections 29CA and 29DA of this Ordinance Modified in

relation to Property Held, or Formerly Held, under
Qualified Investment Arrangement

10 of 2013 19/07/2013



[section 47G & Schedule 7]

1. Application of this Schedule

Sections 29CA and 29DA of this Ordinance apply, with the modifications specified in this Schedule, to an

agreement for sale or a conveyance on sale under which a residential property (property) is disposed of if—
(a) a person (person A) is the originator under a qualified investment arrangement in a specified

alternative bond scheme;
(b) either—

(i) the property is held or was formerly held as, or as part of, the specified asset under the
arrangement; or

(ii) if the arrangement involves the bond-issuer holding, as specified asset, an interest in a business
undertaking formed by person A and the bond-issuer, the property is held or was formerly held
by the business undertaking;

(c) either—
(i) if paragraph (b)(i) applies, person A or the bond-issuer; or
(ii) if paragraph (b)(ii) applies, person A or the business undertaking,

is the vendor under the agreement or the transferor under the conveyance (as the case requires); and
(d) the agreement or conveyance is not an agreement or conveyance for a specified asset transaction

between O and BI or an asset transaction between O and BU under the arrangement.


2. Modifications if property is disposed of after acquisition

(1) A reference to the vendor or transferor acquiring the property in section 29CA(1), (2), (5) or (6) or

29DA(1), (2), (5) or (6) of this Ordinance is to be read as a reference to—
(a) if section 1(b)(i) of this Schedule applies, either—

(i) the bond-issuer acquiring the property from a third party; or
(ii) person A acquiring the property from a third party before it was acquired by the bond-issuer from

person A as originator; or
(b) if section 1(b)(ii) of this Schedule applies, either—

(i) the business undertaking acquiring the property from a third party; or
(ii) person A acquiring the property from a third party before it was acquired by the business

undertaking from person A as originator.
(2) A reference to the vendor or transferor in section 29CA(5)(a) or (b) or (11) or 29DA(5)(a) or (b) or (11) of

this Ordinance is to be read as a reference to the same person as that acquiring the property from a third
party as referred to in subsection (1)(a)(i) or (ii) or (b)(i) or (ii) (as the case requires).



Cap 117 - Stamp Duty Ordinance 109


3. Modifications if building is disposed of after construction on land acquired

Where the property, or part of the property, consists of any building or any part of a building, a reference

specified in column 3 of item 1 of the Table in this Schedule in a section of this Ordinance specified, opposite to
that reference, in column 4 of that item is to be read as—

(a) a reference specified, opposite to that reference, in column 5 of that item if section 1(b)(i) of this
Schedule applies; or

(b) a reference specified, opposite to that reference, in column 6 of that item if section 1(b)(ii) of this
Schedule applies.


4. Modifications if land, acquired with building on it, is disposed of after building is demolished

Where the property, or part of the property, consists of any land, a reference specified in column 3 of item 2 of

the Table in this Schedule in a section of this Ordinance specified, opposite to that reference, in column 4 of that
item is to be read as—

(a) a reference specified, opposite to that reference, in column 5 of that item if section 1(b)(i) of this
Schedule applies; or

(b) a reference specified, opposite to that reference, in column 6 of that item if section 1(b)(ii) of this
Schedule applies.


5. Acquisition by business undertaking

A reference in this Schedule to the property being acquired by the business undertaking includes the property

being acquired by it as a contribution by person A to it in kind when the business undertaking was formed.


Table


Construction of References to Vendor and Transferor in Sections 29CA and 29DA of this Ordinance

Column 1 Column 2 Column 3 Column 4 Column 5 Column 6

Item Circumstances Reference
Section of this

Ordinance
Reference to be

read as
Reference to be

read as
1. Where the property,

or part of the
property, consists of
any building or any
part of a building

(a) the vendor or
transferor
acquiring the
land on which
the building is
constructed

section
29CA(4)(a)(ii) or
29DA(4)(a)(ii)

(i) the bond-issuer
acquiring the
land from a
third party; or

(ii) person A
acquiring the
land from a
third party
before it was
acquired by the
bond-issuer
from person A
as originator

(i) the business
undertaking
acquiring the
land from a
third party; or

(ii) person A
acquiring the
land from a
third party
before it was
acquired by the
business
undertaking
from person A
as originator

(b) the vendor or
transferor

section
29CA(4)(a)(i) or
(iii) or
29DA(4)(a)(i) or
(iii)

person A or the
bond-issuer

person A or the
business
undertaking


2. Where the property, (a) the vendor or section (i) the bond-issuer (i) the business



Cap 117 - Stamp Duty Ordinance 110

or part of the
property, consists of
any land

transferor
acquiring the
land

29CA(4)(b)(i) or
29DA(4)(b)(i)

acquiring the
land from a
third party; or

(ii) person A
acquiring the
land from a
third party
before it was
acquired by the
bond-issuer
from person A
as originator

undertaking
acquiring the
land from a
third party; or

(ii) person A
acquiring the
land from a
third party
before it was
acquired by the
business
undertaking
from person A
as originator

(b) the vendor or
transferor

section
29CA(4)(b)(ii) or
29DA(4)(b)(ii)

person A or the
bond-issuer

person A or the
business
undertaking

(Schedule 6 added 10 of 2013 s. 23)

Schedule: 7 Transitional Provisions for Inland Revenue and Stamp

Duty Legislation (Alternative Bond Schemes)
(Amendment) Ordinance 2013

10 of 2013 19/07/2013



[section 69]

1. The amendments made to section 2(1) (definitions of assessment and stamp duty), sections 4(3), 13, 14, 18J, 19,

45, 58A and 58B of, and the First Schedule to, this Ordinance by sections 24(1) and (2), 25(1), 26, 27, 28, 29,
30, 31, 32 and 34 of the Inland Revenue and Stamp Duty Legislation (Alternative Bond Schemes) (Amendment)
Ordinance 2013 (10 of 2013) (2013 Amendment Ordinance)—

(a) do not apply to a specified alternative bond scheme, or the bond arrangement or investment
arrangement in it, if alternative bonds are issued under the bond arrangement in the scheme before the
date of commencement* of Part 4 of the 2013 Amendment Ordinance; and

(b) do not apply to any instrument executed before that date of commencement*.

2. Section 2(1) (definition of bond), section 4(5A) and (5B) and Parts VA and VB of, and Schedule 6 to, this

Ordinance apply to a specified alternative bond scheme, or the bond arrangement or investment arrangement in
it, only if alternative bonds are issued under the bond arrangement in the scheme on or after the date of
commencement* of Part 4 of the 2013 Amendment Ordinance.


3. Section 47L of this Ordinance does not apply to stamp duty payable under section 45(5A)(c) of this Ordinance

for an instrument executed before the date of commencement* of Part 4 of the 2013 Amendment Ordinance.
(Schedule 7 added 10 of 2013 s. 35)

___________________________________________________________________
Note:
* Commencement date: 19 July 2013.

Schedule: 8 Transactions and Transfers Relating to Exchange Traded

Funds
4 of 2015 13/02/2015



[sections 19 & 63 &
1st Schedule]


Part 1


Interpretation



Cap 117 - Stamp Duty Ordinance 111


1. In this Schedule—


collective investment scheme (集體投資計劃) has the meaning given by section 1 of Part 1 of Schedule 1 to
the Securities and Futures Ordinance (Cap 571);

constitutive documents (組成文件 ), in relation to a collective investment scheme, means the principal
documents governing the establishment of the scheme;

exchange traded fund (交易所買賣基金) means an open-ended collective investment scheme the shares or
units of which are listed or traded on a recognized stock market;

offering document (要約文件), in relation to a collective investment scheme, means a document—
(a) inviting participation in the scheme by prospective shareholders or prospective unit holders of the

scheme; and
(b) containing information relating to the establishment or administration of the scheme;

open-ended collective investment scheme (開放式集體投資計劃) means a collective investment scheme the
shares or units of which may be repurchased or redeemed at the request of any of its shareholders or unit
holders—
(a) at a price calculated wholly or mainly by reference to the net asset value of the scheme; and
(b) in accordance with the frequency for repurchase or redemption, requirements and procedures set out in

the offering document or constitutive documents of the scheme;
purchase (購買), sale (售賣) and sale or purchase (售賣或購買) have the meaning given by section 19(16).


Part 2


Transactions to which Section 19(1) does not Apply


1. A sale or purchase of a share or unit of an exchange traded fund.

2. A transaction that is deemed under section 19(1E)(a) or (12) to be a sale and purchase of Hong Kong stock

where the stock involved is a share or unit of an exchange traded fund.


Part 3


Transfers on which Stamp Duty under Head 2(3) in First Schedule is not Payable


1. A transfer executed for a transaction by which the beneficial interest in a share or unit of an exchange traded
fund passes otherwise than on sale and purchase.


2. An instrument that is deemed under section 30(3) to be a transfer operating as a voluntary disposition inter vivos

under section 27(4) where the unit trust scheme involved is an exchange traded fund.


Part 4


Transfers on which Stamp Duty under Head 2(4) in First Schedule is not Payable


1. A transfer executed for a transaction by which a share or unit of an exchange traded fund is transferred.

2. An instrument that is deemed under section 30(3), (4) or (5) to be a transfer falling within head 2(4) in the First

Schedule where the unit trust scheme involved is an exchange traded fund.
(Schedule 8 added 4 of 2015 s. 6)

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