Stamp Act, 1899 — section 7

7. Policies of sea-insurance..—(1) No contract for sea-insurance (other than such insurance as is referred to in section 506 of the Merchant Shipping Act, 1894 (57 & 58Vict.c. 60) shall be valid unless the same is expressed in a sea- policy. 1 Repealed by the Indian Finance Act, 1927 (Act No. V of 1927), s. 5, The word “cheque”. 2 Subs. by the Central Laws (Statute Reform) Ordinance, 1960, (Ordinance No. XXI of 1960), s. 3 and 2nd Sch. (with effect from the 14th October, 1955), for “the Provinces and the Capital of the Federation” which had been subs. by A.O., 1949, Arts. 3 (2) and 4, for “British India”. 3 Subs. by A.O., 1961, Art. 2 (with effect from the 23rd March, 1956), for “Crown”. 4 The Bombay Coasting Vessels Act. 1838.

(2)No sea-policy made for time shall be made for any time exceeding twelve months.

(3)No sea-policy shall be valid unless it specifies the particular risk or adventure, or the time, for which it is made, the names of the subscribers or under-writers, and the amount or amounts insured.

(4)Where any sea-insurance is made for or upon a voyage and also for time, or to extend to or cover any time beyond thirty days after the ship shall have arrived at her destination and been there moored at anchor, the policy shall be charged with duty as a policy for or upon a voyage, and also with duty as a policy for time.