HC Deb 07 June 1920 vol 130 cc52-3W

asked the Chancellor of the Exchequer whether his attention has been drawn to the insertions in a large number of prospectuses offering shares for public subscription, and advertised in newspapers, of a statement to the effect that no receipt will be issued for payment on application or that an acknowledgment will be forwarded in due course either by allotment letters or return of the application money; whether the methods referred to constitute evasions of the Stamp Act requiring receipts bearing a stamp to be given where payment is made of 40s. or over; and whether he will for the future discountenance such evasions and prevent the consequent loss of revenue, either by public notice or by directing the Registrar of Public Companies to refuse to file prospectuses in which statements of the character referred to are contained?


My attention has not been drawn to the statement referred to in the first part of the question, but a statement that no receipts will be issued would not constitute an evasion of stamp duty. The Stamp Act requires that a receipt for a payment of £2 or more must be stamped if given, and must be given if asked for.