### Stamp Duty Ordinance 《印花稅條例》

29DR. Priority of specified charges
(1) Despite any provisions in any other enactment to the contrary, a specified charge is, to the extent of the reserved amount specified in subsection (2), not entitled to priority over the first acquisition mortgage executed on the subject property concerned.
(2) The reserved amount specified for this section is the lower of the following—
(a) the sum of—
(i) any outstanding principal in respect of the loan for acquiring the subject property under the acquisition mortgage concerned;
(ii) any outstanding interest in respect of that loan; and
(iii) any costs due under that mortgage;
(b) an amount arrived at by deducting the specified amount from the amount or value of the consideration for the acquisition of the subject property under the applicable instrument concerned.
(3) Section 53 of Cap. 219 applies in relation to the specified charge as if it were a subsequent mortgage mentioned in that section.
(4) Moreover, for applying section 54 of Cap. 219 to any money received by the mortgagee in respect of the first acquisition mortgage mentioned in subsection (1), paragraph (d) of that section is to be disregarded, and that money is to be applied, after being applied in payment of the amounts mentioned in paragraph (c) of that section, according to the following priority—
(a) in payment of mortgage money, interest and costs due under the mortgage to the extent of the reserved amount specified in subsection (2);
(b) in payment of the specified amount secured under the specified charge; and
(c) in payment of the remaining mortgage money, interest and costs due under the mortgage.
(5) Despite any rule of law, any provisions in any other enactment or any covenants, terms and conditions in any other instruments to the contrary, the priority of the specified charge in respect of the subject property is not to be affected by any right of subrogation of any person.
(6) To avoid doubt, this section does not otherwise affect any rule of law for determining the priority of a specified charge in respect of the subject property concerned.
(7) In this section—
Cap. 219 (《第219章》) means the Conveyancing and Property Ordinance (Cap. 219);
rule of law (法律規則) means any rule of common law or of equity.

### Stamp Duty Ordinance 《印花稅條例》

29DS. Meaning of deadline for waiver
(1) In sections 29DT, 29DU and 29DX, a reference to the deadline for waiver in relation to an applicable instrument is a reference to—
(a) if the subject property was acquired by a buyer alone—the last day of the period of 9 years beginning on the first day on which the buyer is permitted to stay in Hong Kong because of the relevant specified scheme; or
(b) if the subject property was jointly acquired by co-buyers—subject to subsection (2), the last day (due day for co-buyers

29DT. Application for waiver of liabilities in respect of specified amounts
(1) This section applies in relation to an applicable instrument if the instrument’s liability to stamp duty in respect of the specified amount has been suspended under this Subdivision.
(2) The Collector may, on an application made by a buyer or remaining co-buyer (whichever is applicable) before the deadline for waiver, waive the liability mentioned in subsection (1) if it is shown to the satisfaction of the Collector that—
(a) if the applicant is a buyer—
(i) the applicant has after the date of the applicant’s acquisition of the subject property become, and on the date of the application remains, a Hong Kong permanent resident; and
(ii) no triggering circumstance specified in section 29DU(1)(a)(i) has occurred in relation to the applicable instrument; or
(b) if the applicant is a remaining co-buyer—
(i) each of the remaining co-buyers who were not Hong Kong permanent residents on the date of the co-buyers’ acquisition of the subject property has after that date become, and on the date of the application remains, a Hong Kong permanent resident; and
(ii) no triggering circumstance specified in section 29DU(1)(a)(ii) has occurred in relation to the applicable instrument.
(3) If an application is approved under subsection (2) in relation to an applicable instrument, the instrument is to be stamped with a stamp, or by way of a stamp certificate, denoting that the instrument’s liability to stamp duty in respect of the specified amount has been waived under this section.

### Stamp Duty Ordinance 《印花稅條例》

29DU. Triggering circumstances for cessation of suspension of liabilities in respect of specified amounts
(1) In relation to an applicable instrument, the triggering circumstances specified for this Subdivision are—
(a) that on any date before the deadline for waiver—
(i) if the subject property was acquired by a buyer alone—
(A) the buyer ceases to be a beneficial owner of the property; or
(B) a person other than an eligible person becomes a beneficial owner of the property in addition to the buyer; or
(ii) if the subject property was jointly acquired by co-buyers—
(A) each of the co-buyers who were covered by a specified scheme on the date of the co-buyers’ acquisition of the property has ceased to be a beneficial owner of the property; or
(B) a person other than an eligible person becomes a beneficial owner of the property in addition to one or more remaining specified scheme co-buyers; and
(b) otherwise—that, as at the deadline for waiver, no liability has been waived under section 29DT(2) in relation to the instrument.
(2) In this section—
eligible person (合資格人士), in relation to the subject property concerned, means a person—(a) who is closely related to—
(i) for subsection (1)(a)(i)(B)—the buyer; or
(ii) for subsection (1)(a)(ii)(B)—all of the remaining co-buyers; and
(b) who was acting on his or her own behalf on the date of his or her acquisition of the property.