### Stamp Duty Ordinance 《印花稅條例》

23. How consideration consisting of periodical payments to be charged
(1) In the case of a conveyance on sale or a sale or purchase of Hong Kong stock, where the consideration or any part of the consideration consists of money payable periodically for a definite period not exceeding 20 years so that the total amount to be paid can be previously ascertained, the conveyance or contract note shall be chargeable with stamp duty by reference to a consideration of such total amount.
(2) In the case of a conveyance on sale or a sale or purchase of Hong Kong stock, where the consideration or any part of the consideration consists of money payable for a definite period exceeding 20 years or in perpetuity or for any indefinite period not terminable with life, the conveyance or contract note shall be chargeable with stamp duty by reference to a consideration of an amount equal to the total amount which will or may, according to the terms of sale, be payable during the period of 20 years after the date of the conveyance or contract note.
(3) In the case of a conveyance on sale or a sale or purchase of Hong Kong stock, where the consideration or any part of the consideration consists of money payable periodically for a life or lives, the conveyance or contract note shall be chargeable with stamp duty by reference to a consideration equal to the amount which will or may, according to the terms of sale, be payable during the period of 12 years after the date of the conveyance or contract note.

### Stamp Duty Ordinance 《印花稅條例》

24. Stamp duty chargeable where conveyance etc. is in consideration of debt etc.
(1) In the case of a conveyance on sale or any transaction whereby a beneficial interest in Hong Kong stock passes, where the conveyance or transaction is in consideration, wholly or in part, of any debt due to the transferee or is subject either certainly or contingently to the payment or transfer of any money or stock, whether or not being or constituting a charge or incumbrance upon the property or interest so conveyed or passing, the debt, money or stock is to be deemed the whole or part, as the case may be, of the consideration by reference to which the conveyance or contract note is chargeable with stamp duty.
(2) Where a conveyance on sale or transaction whereby a beneficial interest in any Hong Kong stock passes is in consideration wholly or in part of any debt due to the transferee and, apart from this subsection, the consideration by reference to which the conveyance or contract note would be chargeable with stamp duty would exceed the value of the property conveyed or beneficial interest passing, that consideration shall be treated as reduced to that value; and the conveyance or contract note shall not be duly stamped unless it is stamped under section 13(3).
(3) Where, by virtue of or in connection with any transaction referred to in subsection (1) whereby a beneficial interest in any shares in a body corporate passes, any liability is incurred by the transferee in respect of any indebtedness of the body corporate, the transaction shall, in addition to any other payment of money or transfer of shares to which it is subject, be deemed to be subject to the payment of an amount of money equal to the amount of such indebtedness.

### Stamp Duty Ordinance 《印花稅條例》

27. Voluntary dispositions
(1) Any conveyance of immovable property operating as a voluntary disposition inter vivos shall be chargeable with stamp duty as a conveyance on sale, with the substitution of the value of the property conveyed for the amount or value of the consideration for the sale.
(2) In the case of an instrument of transfer operating as a voluntary disposition inter vivos of Hong Kong stock, or an instrument referred to in section 28(1) which so operates by virtue of that section, any stamp duty paid in respect of contract notes made under section 19(1) in respect of the amount or value of any consideration given by the transferee for such Hong Kong stock shall be set off against the stamp duty chargeable on such instrument of transfer.
(3) A conveyance or transfer operating as a voluntary disposition inter vivos shall not be duly stamped unless the Collector has stamped the instrument of conveyance or transfer under section 13(3)(b).
(4) Any conveyance or transfer (not being a disposition made in favour of a purchaser or incumbrancer or other person in good faith and for valuable consideration) shall for the purposes of this Ordinance be deemed to be a conveyance or transfer operating as a voluntary disposition inter vivos, and (except where marriage is the consideration) the consideration for any conveyance or transfer shall not for this purpose be deemed to be valuable consideration where the Collector is of opinion that by reason of the inadequacy of the sum paid as consideration or other circumstances the conveyance or transfer confers a substantial benefit on the person to whom the property is conveyed or transferred.
(5) Nothing in this section shall apply to a conveyance or transfer made for nominal consideration for the purpose of securing the repayment of an advance or loan or made for effectuating the appointment of a new trustee, whether the trust is expressed or implied, or under which no beneficial interest passes in the property conveyed or transferred, or made to a beneficiary by a trustee or other person in a fiduciary capacity under any trust, whether expressed or implied, and this subsection shall have effect only if the circumstances exempting the conveyance or transfer from charge under this section are set forth in the conveyance or transfer. (Amended 33 of 1998 s. 7)
(6) In this section conveyance (轉易契) includes any agreement for a lease or any release or renunciation of immovable property. 

### Stamp Duty Ordinance 《印花稅條例》

29. Certificate with respect to certain conveyances on sale
(1) References in head 1(1) in the First Schedule to a conveyance on sale being certified at a particular amount mean that such conveyance on sale contains a statement certifying that the transaction effected by the instrument does not form part of a larger transaction or series of transactions in respect of which the amount or value, or aggregate amount or value, of the consideration exceeds that amount.
(2) In subsection (1) a reference to the amount or value of the consideration shall be construed—
(a) in relation to stamp duty chargeable on a conveyance operating as a voluntary disposition inter vivos, as a reference to the value of the property conveyed;
(b) in relation to stamp duty chargeable on a lease or agreement for a lease, as a reference to the amount or value of the consideration in money, stock or security, other than rent.

### Stamp Duty Ordinance 《印花稅條例》

29AB. Nominations or directions that are not agreements for sale
(1) A nomination or direction is excluded from paragraph (h) of the definition of agreement for sale in section 29A(1) if—
(a) it is made or given in favour of a person who is to be a trustee for the purchaser mentioned in paragraph (h) of that definition in respect of the property concerned; 
(b) in so far as it relates to head 1(1A) in the First Schedule—
(i) the property is residential property; and 
(ii) it is shown to the satisfaction of the Collector that subsection (2) applies to the nomination or direction; or 
(c) in so far as it relates to head 1(1B) and (1C) in the First Schedule—
(i) the property is residential property; and 
(ii) subsection (3) applies to the nomination or direction. 

(2) This subsection applies to the nomination or direction if—
(a) it is made or given in favour of one, or more than one, person (whether or not also in favour of the purchaser); and 
(b) on the date of the nomination or direction—
(i) that person, or each of those persons, is closely related to the purchaser, or to each of the purchasers; 
(ii) where there is more than one person, those persons are also closely related; 
(iii) that person, or each of those persons, is acting on his or her own behalf; and
(iv) that person, or each of those persons, is not a beneficial owner of any other residential property in Hong Kong. 
(3) This subsection applies to the nomination or direction if—
(a) it is made or given in favour of one, or more than one, person (whether or not also in favour of the purchaser); 
(b) that person, or each of those persons, is closely related to the purchaser, or to each of the purchasers; and 
(c) where there is more than one person, those persons are also closely related.
(Added 14 of 2014 s. 10)