Hong Kong Ordinances

STAMP DUTY ORDINANCE - SECT 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.