Section 96 Stamp Duties Act

Section 96 of Stamp Duties Act 1939 is about Penalty for issuing share warrant not duly stamped. It provides as follows:

If a share warrant or any instrument to bearer issued by or on behalf of any company or body of persons formed or established in Nigeria and having a like effect as a share warrant or any stock certificate to bearer is issued without being duly stamped, the company issuing the same, and also every person who, at the time when it is issued, is the managing director or secretary or other principal officer of the company, shall be guilty of an offence and liable on conviction to a fine of one hundred naira.