Effect of statement of rate of exchange or average price.—Where an instrument contains a statement of current… — THE INDIAN STAMP ACT, 1899 (2 of 1899)

Effect of statement of rate of exchange or average price.—Where an instrument contains a statement of current rate of exchange, or average price, as

22. Effect of statement of rate of exchange or average price.—Where an instrument contains a statement of current rate of exchange, or average price, as nce with such statement, it shall, so far instrument contains a statement of current rate the case require, and is stamped in accordance with such statement, it shall, so far statement, be presumed, until the contrary is the case require, and is stamped as regards the subject matter of such statement, be presumed, until the contrary is proved, to be duly stamped. Instruments reserving interest.—Where interest is expressly made payable 1[23-A. Certain instruments connected with mortgages of marketable (not being 1[23-A. Cer securities to be chargeable as agreements.—(1) Where an instrument (not being a promissory note or bill of exchange)— (a) is given upon the occasion of the deposit of any marketable security by by way of loan, or for an (a) is given upon the o way of security for money advanced or to be advanced by way of loan, or for an exiting or future debt, or (b) makes redeemable or qualifies a duly stamped transfer, intended as a security, of any marketable, security. it shall be chargeable with duty as if it were an agreement or memorandum of hedule |, it shall be an agreement chargeable with duty under Article No. 5 (c) of Schedule |, A release or Jischarge of any such instrument shall only be chargeable with the like duty. 2(24. How transfer in consideration of debt, or subject to future payment, re any property is transferred to any person in 2(24. How transfer in considerati etc., to be charged.—(1) Where any property is transferred to any person in consideration, wholly or in part, of any debt due to him, or subject either certainly or contingently to the payment or transfer of any money or stock, whether being or constituting a charge or incumbrance upon the property or not, such debt, money or stock is to be deemed the whole or part, as the case may be, of the consideration '(and the transfer is chargeable ad-valorem with duty, in respect of the said consideration or the market value of the property transferred, whichever is higher] . Provided that nothing in this section shall apply to any such certificate of sale as is mentioned in Article No, 18 of Schedule I.

Section 22