Hong Kong Ordinances

ESTATE DUTY ORDINANCE - SECT 14A

Exemption of executors of small estates

(1) If the Commissioner is satisfied-

   (a)  that an executor has, to the best of his knowledge and belief,
        disclosed in such manner as the Commissioner may determine-

        (i)    all of the property belonging to a deceased; and

        (ii)   all of the property held by the deceased as trustee for another
               person;

   (b)  that the principal value of the property belonging to the deceased
        does not exceed $400000; and

   (c)  that no estate duty is payable on the death of the deceased, the
        Commissioner may, subject to any conditions which he may specify,
        exempt the executor from section 14(6).

(2) Where the Commissioner exempts any executor under subsection

(1) he shall issue to the executor a certificate of exemption in such form as
he may determine.

(3) If, at any time after he has issued to an executor a certificate of
exemption under subsection (2), the Commissioner has reasonable grounds for
believing-

   (a)  that the principal value of the property belonging to the deceased
        exceeds $400000; or

   (b)  that estate duty is payable on the death of the deceased, the
        Commissioner may withdraw the exemption granted to the executor under
        subsection (1) and cancel the certificate of exemption, whereupon this
        Ordinance shall apply as if the exemption had not been granted. (Added
        21 of 1972 s. 5. Amended 29 of 1981 s. 5)