|117||Title:||STAMP DUTY ORDINANCE||Gazette Number:|
|Section:||18||Heading:||Calculation of stamp duty as regards foreign currency||Version Date:||30/06/1997|
(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)