5. Amendment in Section 50 of the Indian Stamp Act, 1899.
- Section 50 of the Indian Stamp Act, 1899 shall be substituted as follows:-"(1) No claim for relief under Section 49(d)(5) of the Act shall be admissible unless the application for the relief is made within two months of the date of execution.(2)No Instrument shall be executed on any stamp paper which has remained unutilized for a period exceeding one year from the date of its purchase.(3)No refund shall be admissible after the expiry of a period of one year from the date of purchase of a stamped paper.(4)All refunds under this Section shall be made by the order of the Collector:Provided that if the stamp paper has been purchased before the provisions of this section come into force, no refund can be allowed or no instrument on such stamp paper can be executed after the expiry of one year from the date of its purchase as provided in sub-section (2) and sub-section (3) or after six months from the date of this Section coming into force, whichever is later."
