Amendment status not verified — confirm the current text below against the official source.
Bottomry Bond,- that is to say, any instrument where by the master of a sea- going ship borrows money on the security of the ship to enable him to preserve the The same duty as Bond ship or prosecute her voyage. (No. 12) for such amount. 1[14 Cancellation of instruments.- (a) Cancellation of any instrument previously executed on which stamp duty has been paid as per any article of the 2[Schedule and not otherwise specifically provided for by the Schedule.]2 3[same duty as on the original instrument if such cancellation has the effect of reconveyance of property already conveyed by the original instrument: Provided that, if the original instrument is a conveyance on sale, then the stamp duty payable on such cancellation instrument is, as per article 20(1), on the market value of the property as on the date of execution of such cancellation.] 3 (b) Cancellation of any instrument executed by or on behalf of the Central Government or a Local Authority or other Authority constituted by or under any law for the time being in force or a body corporate wholly owned or 5[five hundred rupees]5 64 controlled by the Central Government or the State Government. (c) in any other case 3[See also agreement or its records or Memorandum of an Agreement No.(5)(e) (i)]3 Release (No.45) Revocation of Settlement (No.48-B), Surrender of Lease (No.51) 4[XXX]4 Explanation.- If the original instrument has been subjected to determination of the market value under section 45-A of the Act, stamp duty on the cancellation of such instrument shall be the same as determined under section 45-A of the Act. ]1 5[five hundred rupees]5