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(1) Except where express provision is made to the contrary by this Act, an unstamped or insufficiently stamped instrument may after its execution and on payment of the unpaid duty, be stamped with an impressed stamp at any time within two months.

(2) An instrument shall not be stamped after the time limit specified in subsection (1) except on payment of the unpaid duty in addition to a penalty of a value equivalent to two and a half penalty units.

(3) Where the unpaid duty exceeds the equivalent in value of two and a half penalty units, there shall be by way of further penalty an interest on the unpaid duty at the rate of five per centum per annum from the day on which the instrument was first executed up to the time when the interest is equal in amount to the unpaid duty.

(4) An unstamped or insufficiently stamped instrument which has first been executed at a place outside Ghana may, on payment of the unpaid duty, be stamped at any time within two months after it has been first received in Ghana.

(5) The payment of a penalty under this Act shall be denoted on the instrument by a particular stamp.