Stamp Duty Act

Section 1. Short title Section This Act may be cited as the Stamp Duty Act.

Section 2. Interpretation Section In this Act, except where the context otherwise requires— "collector" means the Kenya Revenue Authority established under the Kenya Revenue Authority Act ( Cap. 469 ); "consideration" or "valuable consideration" includes valuable consideration in money or money’s worth, marriage and natural love and affection; "duty" and stamp duty" mean any stamp duty for the time being chargeable by any written law; "executed" and "execution", with reference to instruments not under seal, mean signed and signature; "instrument" includes document; "Islamic finance arrangement" has the meaning assigned to it in section 2 of the Income Tax Act ; "Islamic finance return" has a meaning assigned to it in section 2 of the Income Tax Act ; "Islamic property finance" means property or land leased or sold to a financial institution and then leased or resold to a person for a return in accordance with Islamic law; "marketable security" includes a security of such a description as to be capable of being sold on any stock exchange; "material" includes every sort of material on which words and figures can be expressed; "money" includes all sums expressed in Kenya currency or i...

Section 3. Application of Act Section This Act shall apply to all stamp duties and to all fees and penalties which are for the time being directed to be collected or received by means of stamps under or by virtue of any written law.

Section 4. Officers Section The collector may appoint such officers as may be appropriate for the purpose of collecting stamp duty under this Act. [L.N. 236/1964, Sch., Act No. 4 of 1999 , s. 70.]

Section 5. Liability to stamp duty Section Subject to the provisions of, and to the exemptions contained in, this Act and any other written law, every instrument specified in the Schedule, wheresoever executed, which relates to property situated, or to any matter or thing done or to be done, in Kenya, shall be chargeable with the stamp duty specified in that Schedule: Provided that the Government shall not charge stamp duty twice where a person moves a mortgage or an Islamic property finance arrangement from one bank to another. [Act No. 5 of 1960 , s. 2, Act No. 4 of 2012 , s. 31, Act No. 15 of 2017 , s. 38.]

Section 6. Time of stamping and liability for stamping Section 6(1) Subject to the provisions of this Act or of any other written law, every instrument, unless it is written on duly stamped material, shall be duly stamped with the proper duty before the expiration of thirty days after it is first executed, or after it has been first received in Kenya in case it is first executed at any place out of Kenya, unless the opinion of a collector with respect to the amount of duty with which the instrument is chargeable has, before the expiration of that period, been required under section 17 . Section 6(2) If the opinion of a Collector with respect to the amount of duty with which any instrument is chargeable has been required under section 17 , the instrument shall be stamped in accordance with the assessment of the collector within twenty-one days of the date of the notice of the assessment. Section 6(3) Where in the Schedule or in any other written law it is specified that an instrument is to be stamped before execution, it shall be stamped before execution by any party thereto. Section 6(4) If any instrument which is chargeable with stamp duty is not duly stamped, the person or person...

Section 7. Duties, how to be paid Section Except as otherwise expressly provided in this Act, all duties with which any instruments are chargeable shall be paid, and payment shall be denoted upon the instruments, by means of stamps in such manner as may be prescribed.

Section 8. How instruments are to be written and stamped Section 8(1) Every instrument written upon stamped material shall be written in such manner, and every instrument partly or wholly written before being stamped shall be so stamped, that the stamp may appear on the face of the instrument, and cannot be used for or applied to any other instrument written upon the same piece of material. Section 8(2) If more than one instrument is written upon the same piece of material, every one of the instruments shall be separately and distinctly stamped with the duty with which it is chargeable.

Section 9. Instruments to be separately charged in certain cases Section 9(1) An instrument containing or relating to several distinct matters shall be separately and distinctly charged, as if it were a separate instrument, with duty in respect of each of the matters. Section 9(2) An instrument made for any consideration in respect whereof it is chargeable with ad valorem duty, and also for any further or other valuable consideration or considerations, shall be separately and distinctly charged, as if it were a separate instrument, with duty in respect of each of the considerations.

Section 10. Facts and circumstances affecting duty to be set out in instruments Section 10(1)(a) executes any instrument in which all those facts and circumstances are not fully and truly set forth; or Section 10(1)(b) being employed or concerned in or about the preparation of any instrument, neglects or omits fully and truly to set forth therein all those facts and circumstances, shall be guilty of an offence and liable to a fine not exceeding one hundred thousand shillings. Section 10(2) The collector may require any person executing, or any person employed or being concerned in or about the preparation of any instrument, to give evidence on oath, or by statutory declaration, as to the fullness and truth of the facts and circumstances set forth; and for the purpose of taking that evidence the collector may summon any such person to appear before him, and the person so summoned shall be legally bound to appear and to answer such questions and to produce such documents as the collector may put to him or require to be produced relating to those facts and circumstances. [Act No. 10 of 1990 , s. 63(a).]

Section 11. Mode of calculatingad valoremduty in certain cases Section 11(1)(a) any money in any currency other than that of Kenya; or Section 11(1)(b) any stock or marketable security, Section 11(2) Notwithstanding the provisions of subsection (1) , where any instrument other than a bill of exchange or promissory note is charged with an ad valorem duty in respect of any money in any currency other than that of Kenya and a rate of exchange is prescribed by regulations made under this Act for that currency, then the stamp duty on that instrument shall be calculated according to the prescribed rate of exchange. Section 11(3) Where an instrument contains a statement of current rate of exchange, or average price, as the case may require, and is stamped in accordance with that statement it shall, so far as regards the subject matter of the statement, be deemed to be duly stamped, unless or until it is shown that the statement is untrue and that the instrument is in fact insufficiently stamped.

Section 12. Instruments to be in English

Section 13. General directions as to cancellations of adhesive stamps Section 13(1) Where stamp duty is required or permitted by any written law to be denoted by an adhesive stamp, the stamp shall be cancelled in such manner as to render it incapable of being used again for any revenue purpose. Section 13(2) When two or more adhesive stamps are used to denote the stamp duty upon an instrument, each stamp shall be so cancelled. Section 13(3) Where an instrument, the stamp duty on which is required or permitted by any written law to be denoted by an adhesive stamp, is to be stamped before execution, or before issue, or before being parted with by the maker, or before the doing of any other act, the first person executing, or the person issuing, or the maker, or the person doing such other act, as the case may be, shall cancel the adhesive stamp before execution, or before issuing, or before parting with the instrument, or before doing that other act, as the case may be. Section 13(4) Where an instrument, the stamp duty on which is required or permitted by any written law to be denoted by an adhesive stamp, is to be stamped within a certain period after any event, the person affixing...

Section 14. Defacement of adhesive stamps Section Any person who by any writing in any manner defaces an adhesive stamp before it is used for the purpose of denoting stamp duty shall be guilty of an offence and liable to a fine not exceeding two thousand shillings: Provided that any person may, with the express sanction of the Senior Collector of Stamp Duties and in conformity with the conditions which may be prescribed, write upon or otherwise appropriate an adhesive stamp before it is used for the purpose of identification thereof. [Act No. 10 of 1990 , s. 63(c).]

Section 15. Penalty for frauds in relation to adhesive stamps

Section 16. Denoting stamps

Section 17. Adjudication Section 17(1)(a) whether it is chargeable with any duty; Section 17(1)(b) with what amount of duty it is chargeable. Section 17(2) The collector may require to be furnished with an abstract of the instrument, and also with such evidence as he may deem necessary in order to show to his satisfaction whether all the facts and circumstances affecting the liability of the instrument to duty, or the amount of duty chargeable thereon, are fully and truly set forth therein. Section 17(3) If the collector is of the opinion that the instrument is not chargeable with any duty it shall be stamped with a particular stamp denoting that it is not chargeable with any duty. Section 17(4) If the collector is of the opinion that the instrument is chargeable with duty he shall assess the duty with which it is in his opinion chargeable, and when the instrument is stamped in accordance with the assessment it shall be stamped with a particular stamp denoting that it is duly stamped. Section 17(5) Every instrument stamped with the particular stamp, denoting either that it is not chargeable with any duty or that it is duly stamped, shall be admissible in evidence and available for...

Section 18. Persons dissatisfied may appeal Section 18(1) Any person who is dissatisfied with the assessment of the collector may, within thirty days after the date of the assessment, and on payment of duty in conformity therewith, or on securing the duty to the satisfaction of the collector, appeal against the assessment to the High Court, and may for that purpose require the Collector to state and sign a case, setting out the question upon which his opinion was required, and the assessment made by him. Section 18(2) A sum of five thousand shillings shall be lodged with the collector as security for the costs referred to in subsection (6) . Section 18(3) The collector shall thereupon state and sign a case and deliver it to the person by whom it is required, and the case may, within seven days thereafter, and after service thereof upon the Attorney-General, be set down by that person for hearing. Section 18(4) Upon the hearing of the case the court shall determine the question submitted, and, if the instrument in question is in the opinion of the court chargeable with any duty, shall assess the duty with which it is chargeable. Section 18(5) If it is decided by the court that the a...

Section 19. Non-admissibility of unstamped instruments in evidence; and penalty Section 19(1)(a) in criminal proceedings; and Section 19(1)(b) in civil proceedings by a collector to recover stamp duty, Section 19(2) No instrument chargeable with stamp duty shall be filed, enrolled, registered or acted upon by any person unless it is duly stamped. Section 19(3)(a) if the period of time within or before which the instrument should have been stamped has expired and the instrument is one in respect of which a person is specified in the Schedule to this Act as being liable for the stamping thereof, the instrument shall be impounded and, unless the instrument has been produced to a collector, shall forthwith be forwarded to a collector; Section 19(3)(b) in any such case, before the exclusion or rejection of the instrument, the person tendering it shall, if he desires, be given a reasonable opportunity of applying to a collector for leave under section 20 or of obtaining a certificate under section 21 ; Section 19(3)(c) in all other cases, unless otherwise expressly provided in this Act, the instrument shall, saving all just exceptions on other grounds, be received in evidence upon paymen...

Section 20. Stamping out of time Section 20(1)(a) that the omission or neglect to stamp duly did not arise from any intention to evade payment of stamp duty or otherwise to defraud; and Section 20(1)(b) that the circumstances of the case are such as to justify leave being given. Section 20(2)(a) the penalty chargeable under this subsection shall not exceed one hundred per centum of the principal duty outstanding; and Section 20(2)(b) the collector may remit the penalty under this section up to a maximum of one million five hundred shillings, but shall not remit any penalty exceeding that amount without prior approval from the Cabinet Secretary. Section 20(3) If any person applying for leave under this section is dissatisfied with the decision of the collector upon that application, that person may require his application to be referred to the Cabinet Secretary, whose decision thereon shall be final for all purposes. Section 20(4) Upon any application for leave under this section, the collector, or the Cabinet Secretary, may require sworn or other evidence in support of the application. Section 20(5) When an instrument has been stamped by leave under this section it shall be deemed...

Section 21. Certain improperly stamped instruments Section Subject to the provisions of this Act, where an instrument bears a stamp of sufficient amount but of improper description, it may, on payment of the duty with which it is chargeable and of a penalty of ten shillings, be certified to be duly stamped, and any instrument so certified shall then be deemed to have been duly stamped.

Section 22. Effect of non-compliance in case of certain bills of exchange Section Notwithstanding any written law to the contrary, a bill of exchange which is presented for acceptance, or accepted, or payable, outside Kenya, or a cheque, whether presented for acceptance, or accepted, or payable, outside or inside Kenya, shall not be invalid by reason only that it is not stamped in accordance with the provisions of this Act, and any such bill of exchange or cheque which is unstamped or not properly stamped may be received in evidence on payment of the proper duty and penalties as provided by sections 19 and 20 .

Section 23. Instruments executed out of Kenya

Section 24. Refund where instrument erroneously assessed Section If the Senior Collector of Stamp Duties is satisfied that an instrument has been erroneously assessed with duty or penalty, he may, if application for a refund is made at any time within one year after the date of the payment of that duty or penalty, refund the amount thereof to the person by whom it was paid.

Section 25. Splitting Section 25(1) Where any minimum amount is prescribed below which stamp duty shall not be payable, no person shall execute more instruments than would ordinarily be necessary for the transaction in question in order to evade stamp duty. Section 25(2) Where a scale is prescribed under which the rate of stamp duty is increased after passing certain limits, no person shall execute more instruments than would ordinarily be necessary for the transaction in question in order to evade stamp duty. Section 25(3) In any question arising under this section the onus of proof shall lie upon the person who asserts that there has been no splitting in order to evade stamp duty.

Section 26. Penalty for evasion of duty by splitting Section Any person executing an instrument in contravention of the provisions of section 25 shall be guilty of an offence and liable to a fine not exceeding fifty thousand shillings. [Act No. 10 of 1990 , s. 63(e).]

Section 27. Instruments reserving interest Section Where interest or Islamic finance return is expressly made payable by the terms of an instrument, the instrument shall not be chargeable with duty higher than that with which it would have been chargeable had no mention of interest or Islamic finance return been made therein. [Act No. 15 of 2017 , s. 39.]

Section 28. Stamp where value of subject-matter is indeterminate Section Where the amount or value of the subject-matter of any instrument chargeable with ad valorem duty cannot be, or (in the case of an instrument executed before the commencement of this Act) could not have been, ascertained at the date of its execution, or first execution, nothing shall be claimable under the instrument more than the highest amount or value for which, if stated in an instrument of the same description, the stamp actually used would, at the date of such execution, have been sufficient: Provided that if the owner of an instrument which was duly stamped in accordance with the information then available to him receives information showing that the instrument is insufficiently stamped, and produces the instrument with the information to a collector within twenty-one days after receipt, the instrument may be stamped without penalty for such further sum as is proper, but this proviso shall not apply to instruments which are required to be stamped before execution.

Section 29. Recovery of duty and penalties Section 29(1) All duties, penalties and other sums required to be paid by way of or in connexion with stamp duty under this Act or any other written law may be recovered by a collector as a civil debt recoverable summarily. Section 29(2) In a suit under this section, the production of a certificate signed by the Senior Collector of Stamp Duties giving the name and address of the person concerned and the amount of stamp duty due and payable by him shall be sufficient evidence that the amount of stamp duty is due and payable by that person. Section 29(3)(i) where the full amount of the duty due and payable is not recovered by distress, the Senior Collector of Stamp Duties may forthwith recover the deficiency, in the manner provided by this section; Section 29(3)(ii) where the full amount of duty due and payable has been paid after the issue of an order under this section and before the execution of distress, any costs and expenses incurred by the Senior Collector of Stamp Duties prior to the payment of the duty shall be deemed to be a debt due and payable to the Government by the person in respect of whom the order was issued and may be reco...

Section 10A. Valuation by Government Valuer Section 10A(1) The Collector of Stamp Duties shall refer to the Chief Government Valuer or a registered and practicing valuer appointed by the Chief Government Valuer any conveyance or transfer on sale of any immovable property before or after registration of the relevant instruments in order to determine the true open market value of such property as at the date of the conveyance or transfer for purposes of ascertaining whether any additional stamp duty is payable. Section 10A(2) The Collector shall immediately demand by written notice to the purchaser or transferee or his authorised agent the payment of any additional stamp duty that may become payable after the valuation has been effected under subsection (1) , and such payment shall be made within twenty-one days from the date of posting of the notice. Section 10A(3) The Collector shall cause caveats or restrictions, as the case may be, to be registered against the title of any immovable property immediately upon valuation under subsection (1) where additional stamp duty becomes due and payable. Section 10A(4) The provisions of this section shall also apply to gifts inter vivos under...

Section 30. Certain mortgages of stock to be chargeable as agreements Section 30(1) Every instrument under hand only (not being a promissory note or bill of exchange) given upon the occasion of a deposit of any share warrant or stock certificate to bearer, or Commonwealth or foreign share certificate, or any security for money transferable by delivery, by way of security for any loan, shall be deemed to be an agreement, and shall be charged with duty accordingly. Section 30(2) Every instrument under hand only (not being a promissory note or bill of exchange) making redeemable or qualifying a duly stamped transfer intended as a security of any registered stock or marketable security shall be deemed to be an agreement and shall be charged with duty accordingly. Section 30(3) A release or discharge of any such instrument shall be charged with the like duty.

Section 31.[Deleted by ActNo. 13 of 2017, Sch.]

Section 32. Meaning of "bill of exchange" Section an order for the payment of any sum of money by a bill of exchange or promissory note, or for the delivery of any bill of exchange or promissory note in satisfaction of any sum of money, or for the payment of any sum of money out of any particular fund which may or may not be available, or upon any condition or contingency which may or may not be performed or happen; and

Section 33. Meaning of "promissory note" Section 33(1) For the purposes of this Act, "promissory note" includes any document or writing containing a promise to pay any sum of money. Section 33(2) A note promising the payment of any sum of money out of any particular fund which may or may not be available, or upon any condition or contingency which may or may not be performed or happen, shall be deemed a promissory note for that sum of money.

Section 34. Provisions as to stamping foreign bills and notes Section 34(1)(i) if at the time when the bill or note comes into the hands of a bona fide holder there is affixed thereto an adhesive stamp effectually cancelled, the stamp shall, so far as relates to the holder, be deemed to be duly cancelled, although it may not appear to have been affixed or cancelled by the proper person; and Section 34(1)(ii) if at the time when the bill or note comes into the hands of a bona fide holder there is affixed thereto an adhesive stamp not duly cancelled, the holder may cancel the stamp as if he were the person by whom it was affixed, and upon his so doing the bill or note shall be deemed to be duly stamped, and as valid and available as if the stamp had been cancelled by the person by whom it was affixed. Section 34(2) Nothing contained in subsection (1) shall relieve any person from any fine or penalty to which he may be liable for not cancelling an adhesive stamp. [ LN 73 of 1989 , s. 2.]

Section 35. As to bills and notes purporting to be drawn abroad Section A bill of exchange or promissory note which purports to be drawn or made out of Kenya shall, for the purpose of determining the mode in which the stamp duty thereon is to be denoted, be deemed to have been so drawn or made, although it may in fact have been drawn or made within Kenya.

Section 36. Penalty for issuing, etc., any unstamped bill or note Section 36(1) Every person who issues, endorses, transfers, negotiates, presents for payment or pays a bill of exchange or promissory note liable to duty and not being duly stamped shall be guilty of an offence and liable to a fine not exceeding five thousand shillings; and the person who takes or receives from any other person any such bill or note either in payment or as a security, or by purchase or otherwise, shall not be entitled to recover thereon or to make it available for any purpose whatever: Provided that if any bill of exchange payable on demand or at sight, or on presentation, or within three days after date or sight, is presented for payment unstamped the person to whom it is presented may affix thereto an adhesive stamp of two shillings and fifty cents, and cancel it as if he had been the drawer of the bill, and may thereupon pay the sum mentioned in the bill and charge the duty in account against the person by whom the bill was drawn, or deduct the duty from that sum, and the bill shall, so far as respects the duty, be deemed valid and available. Section 36(2) Nothing contained in subsection (1) shall...

Section 37. One bill only of a set need be stamped

Section 38.[Deleted by ActNo. 13 of 2017, Sch.]

Section 39. Charge of duty on capital of companies

Section 40. Provision as to contract notes Section 40(1) For the purposes of this Act, "contract note" means the note sent by a broker or agent to his principal, or by any person who by way of business deals, or holds himself out as dealing, as a principal in any stock or marketable securities, advising the principal or the vendor or purchaser, as the case may be, of the sale or purchase of any stock or marketable security, but does not include a note sent by a broker or agent to his principal where the principal is himself acting as broker or agent for a principal. Section 40(2) Where a contract note is a continuation or carrying over note made for the purpose of continuing or carrying over any transaction for the sale or purchase of stock or marketable securities, the contract note, although it is made in respect of both the sale and purchase, shall be charged with duty under this section as if it related to one of those transactions only, and, if different rates of duty are chargeable in respect of those transactions, to that one of those transactions which would render the contract note chargeable at the highest rate. Section 40(3) Where a contract note advises the sale or purc...

Section 41. Obligation to execute contract notes Section 41(1) Any person who effects any sale or purchase of any stock or marketable security as a broker or agent, and any person who by way of business deals, or holds himself out as dealing, as a principal in any stock or marketable security and buys or sells any such stock or marketable security shall forthwith make and execute a contract note and transmit the note to his principal or to the vendor or purchaser of the stock or marketable security, as the case may be, and in default of so doing shall be guilty of an offence and liable to a fine not exceeding ten thousand shillings. Section 41(2) If any person makes or executes any contract note chargeable with duty and not being duly stamped, he shall be guilty of an offence and liable to a fine not exceeding ten thousand shillings. Section 41(3) No broker, agent or other person shall have a legal claim to any charge for brokerage, commission or agency with reference to the sale or purchase of any stock or marketable security if he fails to comply with the provisions of this section. Section 41(4) Stamp duty on a contract note may be added to the charge for brokerage or agency, an...

Section 42. Extension of provisions as to contract notes to sale or purchase of options Section 42(1) The provisions of this Act as to contract notes shall apply to any contract under which an option is given or taken to purchase or sell any stock or marketable security at a future time at a certain price, as it applies to the sale or purchase of any stock or marketable security, but the duty on such a contract shall be one-half only of that chargeable on a contract note: Provided that, if under the contract a double option is given or taken, the contract shall be deemed to be a separate contract in respect of each option. Section 42(2) Any contract note made or executed in pursuance and in consequence of the exercise of an option given or taken under a contract duly stamped in accordance with the provisions of this section shall be charged with one-half only of the duty which would otherwise have been chargeable thereon under this Act, provided it bears on its face a certificate by the broker, agent or other person mentioned in section 41 to the effect that it is made or executed in the exercise of an option for which a duly stamped contract has been rendered on the date mentioned...

Section 43. Meaning of "conveyance on sale" Section 43(1)(a) an instrument, and a decree or order of a court, whereby any property, or any estate or interest in property, upon the sale thereof is transferred to or vested in a purchaser, or any other person on his behalf or by his direction; Section 43(1)(b) a decree or order for, or having the effect of an order for, foreclosure: Section 43(1)(i) the ad valorem duty upon any such decree or order shall not exceed the duty on a sum equal to the value of the property to which the decree or order relates, and where the decree or order states that value that statement shall be conclusive for the purpose of determining the amount of duty; and Section 43(1)(ii) where ad valorem duty is paid upon the decree or order any conveyance following upon the decree or order shall be exempt from ad valorem duty. Section 43(2) Any vesting order by the court shall bear the same stamp as if it were a conveyance on sale.

Section 44. Howad valoremduty is to be calculated in respect of stock and securities Section 44(1) Where the consideration, or any part of the consideration, for a conveyance on sale consists of any stock or marketable security, the conveyance shall be charged with ad valorem duty in respect of the value of the stock or security. Section 44(2) Where the consideration, or any part of the consideration, for a conveyance on sale consists of any security not being a marketable security, the conveyance shall be charged with ad valorem duty in respect of the amount due on the day of the date thereof for principal and interest upon the security.

Section 45. How consideration consisting of periodical payments to be charged Section 45(1) Where the consideration, or any part of the consideration, for a conveyance on sale consists of money payable periodically for a definite period not exceeding twenty years, so that the total amount to be paid can be previously ascertained, the conveyance shall be charged in respect of that consideration with ad valorem duty on the total amount. Section 45(2) Where the consideration, or any part of the consideration, for a conveyance on sale consists of money payable periodically for a definite period exceeding twenty years or in perpetuity, or for any indefinite period not terminable with life, the conveyance shall be charged in respect of that consideration with ad valorem duty on the total amount which will or may according to the terms of sale be payable during the period of twenty years next after the day of the date of the instrument. Section 45(3) Where the consideration or part of the consideration for a conveyance on sale consists of money payable periodically during any life or lives, the conveyance shall be charged in respect of that consideration with ad valorem duty on the amount...

Section 46. Conveyance on sale with further covenant Section A conveyance on sale made for any consideration in respect whereof it is chargeable with ad valorem duty, and in further consideration of a covenant by the purchaser to make, or of his having previously made, any substantial improvement of or addition to the property conveyed to him, or of any covenant relating to the subject matter of the conveyance, shall not be chargeable, and shall be deemed not to have been chargeable, with any duty in respect of such further consideration.

Section 47. How conveyance in consideration of a debt, etc., to be charged Section Where any property is conveyed to any person in consideration, wholly or in part, of any debt due to him, or subject either certainly or contingently to the payment or transfer of any money or stock, whether being or constituting a charge or encumbrance or not, the debt, money or stock shall be deemed to be the whole or part, as the case may be, of the consideration in respect whereof the conveyance is chargeable with ad valorem duty.

Section 48. Direction as to duty in certain cases of conveyances, mortgages and settlements Section 48(1) Where property contracted to be sold for one consideration for the whole is conveyed to the purchaser in separate parts or parcels by different instruments, the consideration shall be apportioned in such manner as the parties think fit, so that a distinct consideration for each separate part or parcel is set out in the conveyance relating thereto, and that conveyance shall be charged with ad valorem duty in respect of the distinct consideration. Section 48(2) Where property contracted to be purchased for one consideration for the whole by two or more persons jointly or by any person for himself or others or wholly for others is conveyed in parts or parcels by separate instruments to the persons by or for whom it was purchased for distinct parts of the consideration, the conveyance of each separate part or parcel shall be charged with ad valorem duty in respect of the distinct part of the consideration therein specified. Section 48(3) Where there are several instruments employed for completing any conveyance, mortgage or settlement, the principal instrument only shall be charged...

Section 49. Certain contracts to be chargeable as conveyances on sale Section 49(1) Any agreement or memorandum of an agreement for the sale of any estate or interest in any property (except lands, tenements or hereditaments, or property locally situated out of Kenya, or goods, wares or merchandise, or shares, or marketable securities, or any ship or vessel, or part interest, share or property of or in any ship or vessel) shall be charged with the same ad valorem duty as if it were an actual conveyance, assignment or transfer on sale of the estate, interest or property agreed to be sold. Section 49(2) Where ad valorem duty has been paid under subsection (1) and the purchaser, before having obtained a conveyance, assignment or transfer of the property, enters into an agreement for the sale of the property, the agreement shall be charged, if the consideration for the sale is in excess of the consideration for the original sale, with the ad valorem duty payable in respect of the excess consideration, and in any other case with the fixed duty of one thousand shillings or of one hundred shillings, as the case may require. Section 49(3) Where duty has been duly paid in conformity with th...