In the absence of an agreement to the contrary, the expense of providing the proper stamp shall be borne :-(a)in the case of any instrument described in any of the following Articles of the Schedule, namely -No. 2 (Administration Bond);No. 6 (Agreement relating to Deposit of Title-deeds, Pawn, Hypothecation or Pledge),No. 14 (Bond),No. 15 (Bottomry Bond),No. 27 (Customs Bond),No. 31 (Further Charge),No. 33 (Indemnity-bond),No. 41 (Mortgage-deed),No. 44 (Note or memorandum),No. 53 (Release),No. 54 (Respondentia Bond),No. 55 (Security Bond not being a Mortgage-deed),No. 56 (Settlement),No. 60(a) (Transfer of shares in an incorporated company or other corporate),No. 60(b) (Transfer of debentures, being marketable securities, whether the debenture is liable to duty or not, except debentures provided by Section 8),No. 60(c) (Transfer of any interest secured by a bond, mortgage-deed or policy of insurance), by the person drawing, making or executing such instrument;(b)in the case of a conveyance (including a re-conveyance of mortgaged' property) -by the grantee: in the case of a lease or agreement to lease-by the lessee or intended lessee;(c)in the case of transfer of one company to another under the order of the High Court under Section 394 of the Companies Act, 1956 (Act No. 1 of 1956), the stamp duty shall be borne by the company which is acquiring or re-constructing the assets and liabilities under sub-clause (d) of clause (viii) of Section 2;(d)in the case of acquisition of one bank by another bank under the provisions of Section 44-A of the Banking Companies Act, 1949 (Act No. 46 of 1949), the stamp duty shall be borne by the bank which is acquiring or re-constructing the other bank under sub-clause (e) of clause (viii) of Section 2;(e)in the case of transfer of property by any incorporated company or body corporate by the transfer of equity shares of another company or body corporate, the stamp duty shall be borne by the transferee company which is acquiring under explanation (iii) of clause (viii) of Section 2;(f)in the case of a counterpart of a lease - by the lessor;(g)in the case of an instrument of exchange - by the parties in equal shares;(h)in the case of a certificate of sale - by the purchaser of the property to which such certificate relates;(i)in the case of an instrument of Gift - by the donee; and(j)in the case of an instrument of partition - by the parties thereto in proportion to their respective shares in the whole property partitioned, or when the partition is made in execution of an order passed by a Revenue Authority or in Civil Court, or an Arbitrator, in such proportion as such Authority, Court or an Arbitrator directs.
