Home › The Indian Stamp Act, 1899 › Chapter VI – Reference and revision
Section 59: Procedure in disposing of case stated
SHARE WARRANTS to bearer issued under the Indian Companies Act, 1882 (6 of 1882). One and a half times the duty payable on a Conveyance (No. 23) for a consideration equal to the nominal amount of the shares specified in the warrant. Exemptions Share warrant when issued by a company in pursuance of the Indian Companies Act, 1882 (6 of 1882), section 30, to have effect only upon payment, as composition for that duty, to the Collector or Stamp-revenue, of— (a) one and a half per centum of the whole subscribed capital of the company, or (b) if any company which has paid the said duty or composition in full, subsequently issues an Addition to its subscribed capital—one and a half per centum of the additional capital so issued.
Source: official text of The Indian Stamp Act, 1899 as published on India Code (PDF). All sections of the Indian Stamp Act, 1899.