23.—(1) An application for transfer shall bear the proper Inland Revenue stamp impressed thereon to show that all duty payable (if any) in respect of the transaction has been paid.
(2) Where an application for transfer is submitted for the purpose of giving effect to a transaction under a deed or other instrument on which the Inland Revenue stamp has already been impressed, such stamped instrument shall, before completion of the registration, be produced to the Registrar to show that all duty payable (if any) in respect of the transaction has been paid.