1[23A. Certain instruments connected with mortgages of marketable securities to be chargeable as agreements. --(1) Where an instrument (not being a promissory note or bill of exchange)--
(a) is given upon the occasion of the deposit of any marketable security by way of security for money advanced or to be advanced by way of loan, or for an existing or future debt, or
(b) makes redeemable or qualifies a duly stamped transfer, intended as a security, of any marketable security,
it shall be chargeable with duty as if it were an agreement or memorandum of an agreement chargeable with duty under 2[Article No. 5 (c)] of Schedule I.
(2) A release or discharge of any such instrument shall only be chargeable with the like duty.].
STATE AMENDMENT
Himachal Pradesh--
Amendment of section 23-A.-- In sub-section (1) of section 23-A of the said Act, for the word and figure ‘Schedule-I’ the word, figure and letter “Schedule I-A” shall be substituted.
[Vide Himachal Pradesh Act 4 of 1953, s. 8]
(a) is given upon the occasion of the deposit of any marketable security by way of security for money advanced or to be advanced by way of loan, or for an existing or future debt, or
(b) makes redeemable or qualifies a duly stamped transfer, intended as a security, of any marketable security,
it shall be chargeable with duty as if it were an agreement or memorandum of an agreement chargeable with duty under 2[Article No. 5 (c)] of Schedule I.
(2) A release or discharge of any such instrument shall only be chargeable with the like duty.].
STATE AMENDMENT
Himachal Pradesh--
Amendment of section 23-A.-- In sub-section (1) of section 23-A of the said Act, for the word and figure ‘Schedule-I’ the word, figure and letter “Schedule I-A” shall be substituted.
[Vide Himachal Pradesh Act 4 of 1953, s. 8]
Source footnotes
1. Ins. by Act 15 of 1904, s. 3.2. Subs. by Act 1 of 1912, s. 3, for "Article No. 5(b)".
आगे पढ़ें / Continue reading
Explore the next section or browse this act in the selected language.
Next · Section 24How transfer in consideration of debt, or subject to future payment, etc., to be charged. →All sections / सभी धाराएँThe Indian Stamp Act, 1899 →
More sections of this act
Section 1 · Short title, extent and commencement.Section 2 · Definitions.Section 3 · Instruments chargeable with duty.Section 3A · [Repealed.].Section 4 · Several instruments used in single transaction of sale, mortgage or settlement.Section 5 · Instruments relating to several distinct matters.Section 6 · Instruments coming within several descriptions in Schedule I.Section 7 · Policies of sea-insurance.India Code, Government of India. Text fetched 10 Oct 2026. Source metadata reports last modification: 2019-11-29. Check the linked official text and subsequent notifications when applying a provision.