London and India Dock Co v Attorney General: HL 8 May 1908

A company with an issue of debenture stock already in existence re-arranged the stock and modified the rights of the holders under the authority of a private Act. The stock was divided into two new classes, ‘A’ and ‘B,’ and existing stock-holders obtained certificates for a quantity of each class, proportionate to their original holdings, upon delivering up the old certificates.
Held that this amounted to an issue of debenture stock under the Finance Act 1899, sec. 8, and that the company was bound to deliver a statement thereof bearing the appropriate stamp-duty

Judges:

Lord Chancellor (Loreburn), Lords Ashbourne, Macnaghten, James of Hereford, and Atkinson

Citations:

[1908] UKHL 682

Links:

Bailii

Jurisdiction:

England and Wales

Stamp Duty, Company

Updated: 26 April 2022; Ref: scu.621510