THE KARNATAKA STAMP (SECOND AMENDMENT) ACT, 2011
(Received the assent of the Governor on the second day of January, 2012)
KARNATAKA ACT NO. 2 OF 2012
(First published in the Karnataka Gazette Extra-ordinary on the Fourth day of January 2012)
An Act further to amend the Karnataka Stamp Act, 1957.
Whereas it is expedient further to amend the Karnataka Stamp Act, 1957 (Karnataka Act 34 of 1957) for the purposes hereinafter appearing;
Be it enacted by the Karnataka State Legislature in the sixty-second year of the Republic of India as follows:-
1. Short title and commencement.– (1) This Act may be called the Karnataka Stamp (Second Amendment) Act, 2011.
(2) It shall come into force at once.
2. Amendment of section 9.- In the Karnataka Stamp Act, 1957 (Karnataka Act 34 of 1957) in section 9, in sub-section(1), in clause (a), after the fourth proviso, the following shall be inserted, namely:-
“ Provided also that the State Government may in public interest, reduce or remit by notification the stamp duty payable on any instrument to be specified therein, executed by or between the concerned persons in connection with,-
(a) the integrated Karnataka Agri-Business Development policy 2011, specified in the Government order No. AHD 172 AFT 2010, Bangalore, dated 5th March 2011 or as specified by the State Government from time to time;
(b) the Semiconductor policy of Karnataka State- 2010, specified in the Government Order No. ITD 10 PRM 2008, Bangalore, Dated 25th February 2010 or as specified by the State Government from time to time;
(c) The information and communications technology policy- 2011, specified in the Government Order No. ITD 11 PRM 2008, Bangalore, Dated 2nd February 2010 or as specified by the State Government from time to time;
(d) The Karnataka Electronics Hardware Policy – 2011, specified in the Government Order No. ITD 09 PRM 2008, Bangalore, Dated 29th January 2011 or as specified by the State Government from time to time."
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