Question 4 (19 marks) (a) Salad Ltd entered into an Agreement for Sale and Purchase on 10 March 2022 to acquire a commercial unit in Wanchai from Lemon Ltd at a consideration of $30m which was settled by transferring its holding of 200,000 shares in Orange Ltd to Lemon Ltd plus cash of $10m. The share of Orange Ltd is listed on the Hong Kong Stock Exchange and market value of the share was $100 each on 10 March 2022. Salad Ltd, Lemon Ltd and Orange Ltd are not related companies. (b) (9 marks) Purple Ltd holds 95% shareholdings of Black Ltd and White Ltd. Black Ltd also holds 100% of the shares of Grey Ltd. During the year of assessment 2021/22, White Ltd sold an office at a commercial building in Quarry Bay to Grey Ltd for a consideration of $10m. All companies are incorporated in Hong Kong with principal activities carried out in Hong Kong. Furthermore, Purple Ltd acquired a residential apartment which is to be used as staff quarter at North Point for a consideration of $10m in November 2021. The seller, Mr Wong purchased the property jointly with his wife 10 years ago. Both Mr Wong and Mrs Wong are Hong Kong permanent residents. Required: (10 marks) For each of the independent transactions above, explain the charge of stamp duty according to the Stamp Duty Ordinance. Calculate the amount of stamp duty payable, and state the instruments to be stamped as well as the administrative procedure and other documents that are required (if applicable). (Total marks: 19)