Section 48: Terms upon which charterparties may be stamped after execution.

A charter-party may be stamped with an impressed stamp after execution upon the following terms-(a) within seven days after the first execution thereof, on payment of the duty and a penalty of forty-five kobo;
(b) after seven days but within one month after the first execution thereof, on payment of the duty and a penalty of twenty naira, and shall not in any other case be stamped with an impressed stamp