(1) The person liable to pay duty on an instrument is ¾

(a) if a person is specified in the Second Schedule as the person liable to pay the duty on the instrument ¾ that person;

(b) if another person is expressly liable under any other provision of a stamp Act to pay the duty ¾ that other person;

(c) if the instrument is a dutiable statement ¾ the person required to lodge the dutiable statement; or

(d) in any other case ¾ the party to the instrument by whom or on whose behalf it is held.

(2) Nothing in this section is to be taken ¾

(a) to exonerate any other person from any liability imposed on the person under a stamp Act; or

(b) to exempt any instrument or matter from any duty to which it is liable under a stamp Act.

(3) A person who is liable to pay duty is also liable to pay any penalty tax, interest or other amount payable under a stamp Act in connection with the duty.

[Section 17 inserted by No. 2 of 2003 s. 9; amended by No. 66 of 2003 s. 6.]