Be it enacted by  the Senate and House  of Representatives of the Philippines in  Legislature assembled and by  the authority of the same:

SECTION 1. Subsections (c), (s),and (y) of section fourteen hundred and forty-nine of the Administrative Code  are hereby amended to read as follows:

"SEC. 1449. Stamp  tax upon  documents  and papers. — Upon documents,  instruments, and  papers, and  upon  acceptances, assignments, sales, and  transfers of the obligation,  right, or property incident  thereto documentary taxes for and in respect of the transaction so had or accomplished shall be  paid  as hereinafter prescribed,   by  the  person making, signing,  issuing, accepting, or transferring  the same, and at the time such act is done or transaction had:

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"(c)  On all  sales, or agreements to sell, or memoranda of sales, or deliveries, or transfer of bonds, due-bills, certificates of obligation, or shares or certificates of stock in any  association,  company or corporation,  or  transfer  of such securities by assignment in blank, or  by  delivery, or by any paper, or agreement, or memorandum, or other evidence of transfer or sale, whether entitling the holder in any manner to the benefit of such bonds, due-bills, certificates of obligation  or  stock, or to secure the future payment of money, or for  the future transfer of any bond, due-bill, certificate of obligation or stock, on each two hundred pesos, or fractional part thereof, of the par  value of such bond, due-bill, certificate of obligation or  stock, four centavos."

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"(s) On each passage ticket, whether  a  single fare or return ticket, or any receipt for money  paid for the passage of a person on any vessel other than a vessel belonging to the Insular Government or the  Government of the United States from any port in the Philippines Islands to a port in the  United  States or to any foreign  port:

"(1) If said passage costs not more than sixty pesos, one peso and fifty centavos.

"(2) If said passage costs more than sixty pesos and not more than one hundred and twenty pesos, two pesos and fifty centavos.

"(3) If  said passage costs  more than one hundred and twenty pesos  and not more than two hundred and fifty pesos,  three pesos and fifty centavos.

" (4) If said passage costs more  than  two hundred and fifty pesos, five pesos."

" (y) On every Charter party, contract, or agreement for the charter of any ship, vessel, or  steamer,  or any letter or  memorandum or  other  writing  between  the  captain, master, or owner, or  other person acting as agent of any ship, vessel, or steamer and  any other person or persons for or relating to  the charter of any such ship, vessel, or steamer,  and on any  renewal  or transfer of such  charter, contract, agreement, letter or memorandum:

"(1) If the registered gross tonnage of the ship, vessel or steamer is  not more than three  hundred tons,  and the duration  of the charter  or contract is not over six months, six pesos; and for each month or fraction of  a month in excess of six months, an additional tax of one peso shall be paid.

"(2) If the registered gross tonnage is more than three hundred  tons but not more than six hundred tons, and the duration of the charter or contract is not more than six months,  twelve pesos;  and  for each month  or  fraction of a month in excess of six  months,  an additional tax of two pesos  shall be paid.

"(3) If  the registered  gross tonnage  is more  than six hundred tons and the  duration of the charter or contract is not more than six months, twenty-four pesos; and for each month or fraction of  a  month in excess of six months, an additional tax of four pesos shall be paid."

SEC. 2.  Section fourteen hundred and fifty-one of the Administrative Code is hereby amended to read as follows:

"SEC. 1451. Payment of documentary  stamp tax—Cancellation of stamp.— Documentary taxes shall be paid by the a purchase and affixture of documentary stamps to the document or instrument taxed or to such other paper as may be indicated by law as the proper recipient of the stamp, and by the subsequent cancellation  of the same, such  cancellation to be accomplished by writing or stamping the date of  the cancellation across the face of the stamp in such manner that part of the writing or impression shall be on the stamp itself and part on the paper to which it is attached.

"When the evidence of a sale or  transfer is  shown only on the books of a  company,  the stamp shall be affixed  to such books; and in case of the issuance of certificates  of stock or other securities or passage  tickets, the  stamp shall be affixed to the stub or duplicate to be kept in  the office  of the person  or  company issuing such certificates, securities or tickets; and in case the change of ownership  is by transfer of certificates the stamp  shall  be affixed to the  certificate; and  in  case of  an agreement to sell, or when the transfer is  by delivery of the certificate assigned in blank, there shall be made and delivered by the seller to the buyer a bill or memorandum of such sale to which the  stamp shall be affixed; and every such bill or memorandum of sale,  or agreement to sell, shall show the date thereof, the  name  of the seller and of the purchaser, the  amount of the  sale, and matter or thing to which it refers."

SEC. 3. This  Act shall take effect on its  approval.

Approved, March 10, 1922.