HC Deb 23 September 1909 vol 11 cc693-5

The provisions of this Part of this Act as to contract notes shall apply to any contract under which an option is given to purchase or sell any stock or marketable

security at a future time at a certain price, as it applies to the sale or purchase of any stock or marketable security, but if any person proves to the satisfaction of the Commissioners that he has paid the duty on the contract note in respect of any such option, and that Stamp Duty has subsequently been paid on a contract note for a sale or purchase of the stock or marketable security effected in pursuance of the option, the Commissioners shall repay to him the amount paid as the Stamp Duty on the contract note for the option.

Amendments made: After the word "given" ["under which an option is given"], to insert the words "or taken."

To leave out all the words after the words "purchase of any stock or marketable security," and to insert instead thereof, "the Stamp Duty on such a contract shall be one-half only of that chargeable on a contract note: Provided that if under the contract a double option is given or taken the contract shall be deemed to be a separate contract in respect of each option.

"(2) Any contract note made or executed in pursuance and in consequence of the exercise of an option given or taken under a contract duly stamped in accordance with the provisions of this Section shall be charged with one-half only of the duty which would otherwise have been chargeable thereon under this Part of this Act provided that it bears on its face a certificate by the broker, agent, or other person mentioned in the last preceding Section to the effect that it is made or executed in the exercise of an option for which a duly stamped contract has been rendered on the date mentioned in the certificate."—[Mr. Hobhouse]

Question put, "That the Clause, as Amended, stand part of the Bill."

The Committee divided: Ayes, 191; Noes, 56.

Division No. 716.] AYES. [8.25 p.m.
Abraham, W. (Cork, N. E.) Barran, Sir John Nicholson Collins, Sir Wm. J. (St. Pancras, W.)
Adkins, W. Ryland D. Bell, Richard Corbett, A. Cameron (Glasgow)
Agnew, George William Belloc, Hilaire Joseph Peter R. Corbett, C. H. (Sussex, E. Grinstead)
Alden, Percy Berridge, T. H. D. Cornwall, Sir Edwin A.
Allen, A. Acland (Christchurch) Bethell, Sir J. H. (Essex, Romford) Cox, Harold
Allen, Charles P. (Stroud) Boulton, A. C. F. Crosfield, A. H.
Ambrose, Robert Brigg, John Cross, Alexander
Ashton, Thomas Gair Bright, J. A. Dalziel, Sir James Henry
Asquith, Rt. Hon. Herbert Henry Burns, Rt. Hon. John Davies, Ellis William (Eifion)
Balfour, Robert (Lanark) Burt, Rt. Hon. Thomas Davies, Sir W. Howell (Bristol, S.)
Barker, Sir John Carr-Gomm, H. W. Dobson, Thomas W.
Barlow, Sir John E. (Somerset) Chance, Frederick William Duffy, William J.
Barnard, E. B. Clough, William Duncan, C. (Barrow-in-Furness)
Barnes, G. N. Collins, Stephen (Lambeth) Duncan, J. Hastings (York, Otley)
Dunn, A. Edward (Camborne) Lever, A. Levy (Essex, Harwich) Roberts, Charles H. (Lincoln)
Dunne, Major E. Martin (Walsall) Levy, Sir Maurice Robertson, Sir G. Scott (Bradford)
Edwards, Sir Francis (Radnor) Lewis, John Herbert Robertson, J. M. (Tyneside)
Elibank, Master of Lloyd-George, Rt. Hon. David Robinson, S.
Erskine, David C. Lundon, T. Roch, Walter F. (Pembroke)
Essex, R. W. Lynch, A. (Clare, W.) Roe, Sir Thomas
Evans, Sir S. T. Macdonald, J. M. (Falkirk Burghs) Rogers, F. E. Newman
Everett R. Lacey Maclean, Donald Rose, Sir Charles Day
Falconer, J. MacNeill, John Gordon Swift Russell, Rt. Hon. T. W.
Fiennes, Hon. Eustace MacVeagh, Jeremiah (Down, S.) Samuel, Rt. Hon. H. L. (Cleveland)
Findlay, Alexander MacVeigh, Charles (Donegal, E.) Samuel, S. M. (Whitechapel)
Fuller, John Michael F. M'Callum, John M. Schwann, Sir C. E. (Manchester)
Fullerton, Hugh M'Laren, H. D. (Stafford, W.) Seely, Colonel
Gibb, James (Harrow) M'Micking, Major G. Shaw, Sir Charles E. (Stafford)
Gibson, J. P. Mallet, Charles E. Shipman, Dr. John G.
Gill, A. H. Markham, Arthur Basil Snowden, P.
Glendinning, R. G. Marnham, F. J. Soares, Ernest J.
Glover, Thomas Massie, J. Steadman, W. C.
Grey, Rt. Hon. Sir Edward Masterman, C. F. G. Stewart-Smith, D. (Kendal)
Gulland, John W. Meagher, Michael Summerbell, T.
Gwynn, Stephen Lucius Menzies, Sir Walter Taylor, John W. (Durham)
Harcourt, Rt. Hon. L. (Rossendale) Middlebrook, William Thomas, Sir A. (Glamorgan, E.)
Harcourt, Robert V. (Montrose) Molteno, Percy Alport Thorne, G. R. (Wolverhampton)
Harmsworth, R. L. (Caithness-shire) Montagu, Hon. E. S. Thorne, William (West Ham)
Haworth, Arthur A. Muldoon, John Tomkinson, James
Hazleton, Richard Murray, Capt. Hon. A. C. (Kincard.) Trevelyan, Charles Philips
Hedges, A. Paget Myer, Horatio Verney, F. W.
Helme, Norval Watson Nannetti, Joseph P. Wadsworth, J.
Henderson, Arthur (Durham) Newnes, F. (Notts, Bassetlaw) Walker, H. De R. (Leicester)
Henderson, J. McD. (Aberdeen, W.) Norman, Sir Henry Walsh, Stephen
Henry, Charles S. Norton, Captain Cecil William Walters, John Tudor
Herbert, Col. Sir Ivor (Mon. S.) Nussey, Sir Willans Waring, Walter
Hobhouse, Rt. Hon. Charles E. H. Nuttall, Harry Warner, Thomas Courtenay T.
Holt, Richard Durning O'Donnell, C. J. (Walworth) Wason, Rt. Hon. E. (Clackmannan)
Hooper, A. G. O'Kelly, Conor (Mayo, N.) Wason, John Cathcart (Orkney)
Horniman, Emslie John O'Malley, William Watt, Henry A.
Isaacs, Rufus Daniel Parker, James (Halifax) White, Sir George (Norfolk)
Jackson, R. S. Partington, Oswald White, J. Dundas (Dumbartonshire)
Jenkins, J. Pearce, Robert (Staffs, Leek) White, Sir Luke (York, E. R.)
Jones, Leif (Appleby) Philipps, Col. Ivor (Southampton) Whittaker, Rt. Hon. Sir Thomas P.
Jones, William (Carnarvonshire) Pickersgill, Edward Hare Wilkie, Alexander
Joyce, Michael Pirie, Duncan V. Williams, J. (Glamorgan)
Keating, M. Pointer, J. Williams, W. Llewelyn (Carmarthen)
Kelley, George D. Pollard, Dr. G. H. Williamson, Sir A.
King, Alfred John (Knutsford) Ponsonby, Arthur A. W. H. Wilson, W. T. (Westhoughton)
Laidlaw, Robert Priestley, Arthur (Grantham) Wood, T. M'Kinnon
Lamb, Edmuld G. (Leominster) Raphael, Herbert H. Yoxall, Sir James Henry
Lamb, Ernest H. (Rochester) Rea, Rt. Hon. Russell (Gloucester)
Lamont, Norman Rees, J. D. TELLERS FOR THE AYES.—Mr. Joseph Pease and Sir E. Strachey.
Layland-Barratt, Sir Francis Richards, T. F. (Wolverhampton, W.)
Lehmann, R. C.
Acland-Hood, Rt. Hon. Sir Alex. F. Forster, Henry William Rawlinson, John Frederick Peel
Anson, Sir William Reynell Gardner, Ernest Renwick, George
Balcarres, Lord Goulding, Edward Alfred Ridsdale, E. A.
Banbury, Sir Frederick George Gretton, John Roberts, S. (Sheffield, Ecclesall)
Baring, Capt. Hon. G. (Winchester) Haddock, George B. Rutherford, John (Lancashire)
Brotherton, Edward Allen Hamilton, Marquess of Rutherford, Watson (Liverpool)
Burdett-Coutts, W. Harrison-Broadley, H. B. Salter, Arthur Clavell
Butcher, Samuel Henry Hermon-Hodge, Sir Robert Smith, Abel H. (Hertford, East)
Campbell, Rt. Hon. J. H. M. Hills, J. W. Stone, Sir Benjamin
Carlile, E. Hildred Hope, James Fitzalan (Sheffield) Thomson, W. Mitchell- (Lanark)
Cecil, Lord R. (Marylebone, E.) Kimber, Sir Henry Tuke, Sir John Batty
Cldye, J. Avon King, Sir Henry Seymour (Hull) Valentia, Viscount
Coates, Major E. F. (Lewisham) Law, Andrew Bonar (Dulwich) Walker, Col. W. H. (Lancashire)
Corbett, T. L. (Down, North) Lockwood, Rt. Hon. Lt.-Col. A. R. Warde, Col. C. E. (Kent, Mid)
Craig, Captain James (Down, E.) MacCaw, William J. MacGeagh Wortley, Rt. Hon. C. B. Stuart-
Douglas, Rt. Hon. A. Akers- Mason, James F. (Windsor) Younger, George
Duncan, Robert (Lanark, Govan) Morpeth, Viscount
Faber, George Denison (York) Morrison-Bell, Captain TELLERS FOR THE NOES.—Mr. Joynson-Hicks and Sir W. Bull.
Fell, Arthur Pease, Herbert Pike (Darlington)
Fletcher, J. S. Powell, Sir Francis Sharp