8. Manner of payment of stamp duty

Otherwise than when stamp duty is compounded in terms of section 7, stamp duty shall be paid by means of affixing adhesive stamps to the required value, at the time of execution of the instrument; the person liable to pay the duty shall cancel the stamp or stamps so affixed thereby preventing the stamps from being used again:

Where the duty payable on an instrument is paid in the manner specified in subsection (1), the instrument shall be deemed to have been properly stamped.