Salahudeen V. Commissioner Of Stamps

1954 Present: Nagalingam S.P.J. and Fernando A.J.

M. N. M. SALAHUDEEN, Appellant, and
 COMMISSIONER OF STAMPS, Respondent

S. C. 241-Appeal under the Stamps Ordinance

Stamps-Trust in favour of Company which is not yet in existence-Conveyance: by trustee to Company after grant of incorporation-Amount of stamp duty payable-Stamps Ordinance, Schedule, Part 1, Items 23 \1) (6), 23 (4), 23 (8)r 27 (Proviso)-Trusts Ordinance, 5.84.

Property can be held by a person in trust to convey it to a Company which is to-come into existence in the future. When immovable property thus held in trust is conveyed by the trustee to the Company when formed, the deed of transfer is a conveyance " by a trustee without consideration to the person beneficially entitled ", and as such attracts only the duty chargeable under Item 23 (4) of; Part 1 of the Schedule to the Stamps Ordinance.

APPEAL against a determination of the Commissioner of Stamps

H. W. Tambiah, with A. M. Ameen, for the appellant.

M. Tiruchelvam, Crown Counsel, for the respondent.

Cur. adv. vult.

November 24, 1954. FERNANDO A.J.-

The appellant contests the correctness of the opin

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