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41. Non-admissibility etc. of instruments not duly stamped

Section 15(3) is amended—

(a) in paragraph (a), by repealing “or” at the end;

(b) by adding—

“(aa) a matter under the Land Titles Ordinance (26 of 2004) if the instrument supporting the registration of the matter is—

(i) stamped under section 5(1) or 13(2); or

(ii) an agreement for sale that either contains a statement to the effect that it relates to non-residential property within the meaning of section 29A(1) or is endorsed under section 29C(13)(a); or”;

(c) by adding “或事項” after “下文書”.

42. Section added

The following is added—

“67. Transitional provisions for purposes of Land Titles Ordinance

(1) In this section, “date of first registration” (首次註冊日期), “dealing” (交易) and “registered land” (註冊土地) have the meanings respectively assigned to them by section 2(1) of the Land Titles Ordinance (26 of 2004).

(2) Where an instrument—

(a) has either been registered, or delivered for registration (including any case where a memorial of such an instrument has been redelivered for registration on or after the date of first registration) under the Land Registration Ordinance (Cap. 128); and

(b) is stamped under section 13(2) but is not stamped under section 13 with a stamp denoting that it is not chargeable with stamp duty or that it is duly stamped,

then the stamp duty, if any, chargeable on the instrument shall be a first charge on the registered land the subject of the dealing to which the instrument relates.

(3) The charge under subsection (2) in respect of registered land shall expire on—

(a) the 1st anniversary of the date of first registration of the land;

(b) the date on which the instrument is stamped under section 13 with a stamp denoting that it is not chargeable with stamp duty; or

(c) the date on which the instrument is stamped with a stamp denoting that it is duly stamped,

whichever is the earlier.

(4) Where a first charge under this section is registered under the Land Titles Ordinance (26 of 2004) at any time before the 1st anniversary of the date of first registration, then subsection (2), as in force immediately before that day, shall continue to operate in relation to that charge as if subsection (3) had never been enacted.

(5) For the avoidance of doubt, it is hereby declared that a first charge under this section may be registered under the Land Titles Ordinance (26 of 2004) notwithstanding that the amount of the charge has not been determined.”.

Buildings Ordinance

43. Interpretation

Section 2(1) of the Buildings Ordinance (Cap. 123) is amended by repealing the definition of “Land Registry”.