Section 7 Stamp Duties Act

Section 7 of Stamp Duties Act 1939 is about Discontinuance and issue of dies. It provides as follows:

(1) Until discontinued as provided in this section, the dies for impressed revenue stamps in use at the coming into force of this Act shall continue to be,used, and the commissioners may, from time to time, procure new dies of the same design.

(2) No die of new design of impressed revenue stamp shall used without the approval of the Minister or Governor, as the case may be, and a notification of such approval shall be published in the Federal Gazette at least one month before such new die shall be used.

(3) The Minister or Governor, as the case may be, may by notice in the Federal Gazette determine to discontinue the use of any die for the use of a revenue stamp and provide a new die to be used in lieu thereof: then from and after any day to be stated in the notice (such day not being within one month after the same is so published) the new die shall be the only lawful die for denoting the duty chargeable in any case in which the discontinued die would have been used;any and every instrument first executed by any person, or bearing date after the day so stated, and stamped with the discontinued die, shall be deemed to be not duly stamped:

Provided that-
(a) if any instrument stamped as last aforesaid, and first executed after the day so stated at any place out of Nigeria is brought to a commissioner within 21days after it has been received in Nigeria, then, upon proof of the facts to the satisfaction of the commissioner, the stamps thereon shall be cancelled and the instrument shall be stamped with the same amount of duty by means of the lawful die, without the payment of any penalty;

(b) all persons having in their possession any material stamped with the discontinued die, and which by reason of the providing of such new die has been rendered useless, may, at any time within six months after the day stated in the notice, send the said material to the Accountant-General who shall cause the stamp on such material to be cancelled and refund the amount of duty paid upon such material.

[/membership]