BEWARE! Legal Problems Arising from the Bill on Hong Kong’s New Special Stamp Duty (SSD)

The Stamp Duty (Amendment) (No.2) Bill ("the Bill") in respect of special stamp duty ("SSD") was gazetted on 3 December 2010 and is in the process of review before the Legislative Council. The Legal Service Division Report dated 7 December 2010 suggests that the Legislative Council may wish to set up a bills committee to review and consider the concerns arising from the Bill.