Section 95 Stamp Duties Act

Section 95 of Stamp Duties Act 1939 is about Where several instruments, one only to be charged with ad valorem duty. It provides as follows:

(1) Where several instruments are executed for effecting the settlement of the same property, and the ad valorem duty chargeable in respect of the settlement of the property exceeds one naira, one only of the instruments shall be charged with the ad valorem duty.

(2) Where a settlement is made in pursuance of a previous agreement upon which ad valorem settlement duty exceeding one naira has been paid in respect of any property, the settlement shall not be charged with ad valorem duty in respect of the same property.

(3) In each of the aforesaid cases the instruments not chargeable with ad valorem duty shall be charged with the duty of one naira.

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