Ong CJ:

For more than two decades past it had been the established practice of moneylenders in Malaya to present their promissory notes to the collector for stamping, by means of an impressed stamp of the Stamp Office, before such notes were signed by the borrowers. I have not been aware, during all these years, of promissory notes being stamped, in any case, after execution. This practice has been in accordance with the accepted interpretation of the law as provided in s. 47 of the Stamp Ordinance 1949. S 41 reads as follows:

41 Save where express provision to the contrary is in this Ordinance contained, all instruments chargeable with duty and executed by any person in the Federation shall be stamped before or at the time of execution.

Section 47 goes on to provide that "Save where other express provision is made in this or any other Ordinance, any unstamped or insufficiently stamped instrument, not being a bill of exchange, cheque or promissory note drawn or made within the Federation .... may be stamped after the execution thereof on payment of the unpaid duty, subject as follows" that, on presentation for stamping within 30 days of its execution, the duty only shall