PUNJAB GOVT. GAZ. (EXTRA), JANUARY 15, 2024
(PAUSA 25, 1945 SAKA)
EXTRAORDINARY
Published by Authority
CHANDIGARH, MONDAY, JANUARY 15, 2024
(PAUSA 25, 1945 SAKA)
LEGISLATIVE SUPPLEMENT
Contents Pages
Part - I Acts
The Indian Stamp (Punjab Amendment) Act, 2023. (Punjab Act No. 2 of 2024)
.. 3-4
Part - II Ordinances
Nil
Part - III Delegated Legislation
Nil
Part - IV Correction Slips, Republications and
Replacements
Nil
( v ) 3
PUNJAB GOVT. GAZ. (EXTRA), JANUARY 15, 2024
(PAUSA 25, 1945 SAKA)
PART I
GOVERNMENT OF PUNJAB
DEPARTMENT OF LEGAL AND LEGISLATIVE AFFAIRS, PUNJAB
NOTIFICATION
The 15th January, 2024
No. 2-Leg./2024.- The following Act of the Legislature of the State
of Punjab received the assent of the Governor of Punjab on the 1st day of
January, 2024, is hereby published for general information:-
THE INDIAN STAMP (PUNJAB AMENDMENT) ACT, 2023
(Punjab Act No. 2 of 2024)
AN
ACT
further to amend the Indian Stamp Act, 1899, in its application to the
State of Punjab.
BE it enacted by the Legislature of the State of Punjab in the Seventy-
fourth Year of the Republic of India as follows:-
1. (1) This Act may be called the Indian Stamp (Punjab Amendment) Short title and commencement.
Act, 2023.
(2) It shall come into force on and with effect from the date of its
publication in the Official Gazette.
2. In the Indian Stamp Act, 1899, in its application to the State of Punjab, in
Schedule 1-A,-
Amendment of Schedule 1-A of the Central
Act 2 of 1899.
(i) for the existing entry 6, the following entry shall be substituted,
namely:--
"6. Agreement relating to Deposit of Title-
Deeds, pawn or pledge, mortgage by way of
deposit of Title Deed (Equitable Mortgage)
and hypothecation, that is to say, any instrument
evidencing an agreement relating to- (1) the deposit of title
0.25% of the loan
deeds or instruments
amount credited
constituting or being
or an existing or
evidence of the title to any
future debts.
property whatever (other
than a marketable security), PUNJAB GOVT. GAZ. (EXTRA), JANUARY 15, 2024
4
(PAUSA 25, 1945 SAKA)
instrument of hypothecation
without delivery of possession,
or
(2) the pawn or pledge of
immovable property, where
such deposit, pawn, or pledge
has been made by way of
security for the repayment of
money advanced or to be
advanced by way of loan or
an existing or future debt-
(a) if such loan or debt is
repayable on demand
or more than three
months from the date of
instrument evidencing
the agreement;
(b) if such loan or debt is
repayable not more than
three months from the
date of such instrument.
(ii) in entry 48, for item (f), the following item shall be substituted,
namely:-
2% of the amount of
"(f) When given to a person
the consideration, or
other than family member,
of Collector rate in
authorizing the attorney to
respect of the
sell any immovable property;
property mentioned in
and
the instrument,
whichever is higher
Note: "'Family Member' includes spouse, child, parent, sibling,
grandparent and grandchild."
MANDEEP PANNU,
Principal Secretary to Government of Punjab,
Department of Legal and Legislative Affairs.