Registration Duty (Amendment of Schedule) Regulations 2011 (GN No. 235 of 2011)

Registration Duty (Amendment of Schedule) Regulations 2011 GN No. 235 of 2011 THE REGISTRATION DUTY ACT Regulations made by the Minister under section 49 of the Registration Duty Act 1. These regulations may be cited as the Registration Duty (Amendment of Schedule) Regulations 2011. 2. In these regulations "Act" means the Registration Duty Act. 3. The First Schedule to the Act is amended (a) in Part III, by adding the following new items 32. Any loan for an amount not exceeding 100,000 rupees granted by the Development Bank of Mauritius to any person other than its employees. 33. Any loan for an amount not exceeding 100,000 rupees granted by the Tobacco Board to growers of tobacco leaves. 34. Any loan for an amount not exceeding 100,000 rupees granted by co operative societies to their members. (b) in Part IV, by deleting items 3, 5, 6 and 7 and their corresponding entries; (c) in Part VII (i) in item (c) (A) by deleting the words "5, 6 or 7 of Part IV" and replacing them by the words "32, 33 or 34 of Part III"; (B) by deleting the figures "1,000", "3,000" and "10,000" and replacing them by the word "Nil"; (ii) by adding the following new item Notwithstanding item (c), where a person who has contracted a lease or loan under item (a), (b) or (c) contracts a subsequent lease or loan within a period of one year from the date of the first lease agreement or deed of loan, the subsequent lease agreement or deed of loan, as the case may be, shall be subject to the appropriate rate of duty specified hereunder Aggregate Amount Rs (a) not exceeding Rs 300,000 1,000 (b) exceeding Rs 300,000 but not exceeding Rs 500,000 3,000 (c) exceeding Rs 500,000 but not exceeding Rs 1,000,000 10,000 (d) exceeding Rs 1,000,000 but not exceeding Rs 5,000,000 30,000 (e) exceeding Rs 5,000,000 50,000 4. These regulations shall come into operation on 1 January 2012. Made by the Minister on 28 December 2011.