Standing Order No. 4833/2014 of the Information Technology Department, Government of Karnataka dated 1st August, 2014 on the issue of bills of exchange and promissory notes [C1J-H27]

Standing Order No. 4833/2014

GOVERNMENT OF KARNATAKA

Information Technology Department, Government of Karnataka

Bengaluru, dated the 1st August, 2014

STANDING ORDER

To

All Superintendents of Stamps,

Subject: The issue of bills of exchange and promissory notes by banker issuing instruments under the Karnataka Stamp Act, 1957, regarding.

In exercise of the powers conferred by section 9 of the Karnataka Stamp Act, 1957 (Karnataka Act 34 of 1957), the Information Technology Department, Government of Karnataka hereby issues the following Standing Order for the guidance of all officers subordinate to it:

1. References have been received seeking clarification on the manner in which section 9 applies to the issue of bills of exchange and promissory notes by banker issuing instruments.

2. The matter has been examined. Every banker issuing instruments carrying on the issue of bills of exchange and promissory notes shall make an application in Form B to the District Registrar within one hundred and twenty days, accompanied by a fee of five hundred rupees.

3. The Superintendent of Stamps shall ensure that impressed stamp is dealt with as directed above, and shall report compliance to the District Registrar within one hundred and twenty days.

4. Difficulties, if any, in the implementation of this standing order may be brought to the notice of the Information Technology Department, Government of Karnataka.

(Secretary to Government)