§ SIR ROPER LETHBRIDGE (Kensington, N.)asked Mr. Chancellor of the Exchequer, Whether the now duty of 10s. per cent. on the transfer of Stocks will apply to Trust Funds, whenever transfers take place on a new Trustee being appointed and the transfer to new owners is nominal only, such transfers being at present exempt under Section 78 of "The Stamp Duties Act, 1870?"
§ THE CHANCELLOR OF THE EXCHEQUER (Mr. GOSCHEN) (St. George's, Hanover Square)No, Sir; the duty on the transfer of Stocks will not apply to any transfer of Stocks where there is not a real sale and purchase. The merely formal transfers necessitated by 713 the appointment of a new Trustee will be exempt from Stamp Duty, as they are at present.