Schedule I, Article 32: Further Charge

FURTHER CHARGE—Instrument of, that is to say, any instrument imposing a further charge on mortgaged property— (a) when the original mortgage is one of the description referred to in clause (a) of Article No.40 (that is, with possession); and (b) when such mortgage is one of the description referred to in clause (b) of Article No.40 (that is, without possession)— (i) if at the time of execution of the instrument of further charge possession of the property is given or agreed to be given under such instrument; and (ii) If possession is not so given. Proper stamp-duty: The same duty as on a Conveyance (No.23) for a consideration equal to the amount of the further charge secured by such instrument. The same duty as on a Conveyance (No.23) for a consideration equal to the total amount of the charge (including the original mortgage and any further charge already made) less the duty already paid on such original mortgaged and further charge. The same duty as on a Bond (No.15) for the amount of the further charge secured by such instrument.

Amendment history

• v2 · 2026-07-24 11:25:40 — Phase 2W reapply (text)

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