Farm Products Co-Operative (Tararua) Limited v Commissioner of Inland Revenue - [1969] NZLR 874

Revenue — Stamp duties — Option agreement to purchase shares — Shares transferred forthwith to be held in trust for vendors — No beneficial interest to pass meantime — If option not exercised shares to be retransferred to vendors — Option subsequently exercised orally — Transfers thereupon presented for stamping — Value of property transferred — Appropriate rate of stamp duty — Stamp Duties Act 1954, ss. 2, 56, 59, 63, 65, 66, 69, 72, 90.