[80A Sales to intermediaries]
Finance Act 1986 (1986 c 41) | Legislation

Changes in financial institutions

[80A  Sales to intermediaries]

[

[(1)ÌýÌýÌýÌý Stamp duty shall not be chargeable on an instrument transferring stock of a particular kind on sale to a person or the person's nominee if—

(a)ÌýÌýÌýÌý the person is a member of a regulated market on which stock of that kind is regularly traded; and

(b)ÌýÌýÌýÌý the person is an intermediary and is recognised as such by the market in accordance with arrangements approved by the Commissioners.

(1A)ÌýÌýÌýÌý Stamp duty shall not be chargeable on an instrument transferring stock of a particular kind on sale to a person or the person's nominee if—

(a)ÌýÌýÌýÌý the person is a member of a multilateral trading facility, or a recognised foreign exchange, on which stock of that kind is regularly traded;

(b)ÌýÌýÌýÌý the person is an intermediary and is recognised as such by the facility or exchange in accordance with arrangements approved by the Commissioners; and

(c)ÌýÌýÌýÌý the sale is effected on the facility or exchange.

(1B)ÌýÌýÌýÌý Stamp duty shall not be chargeable on an instrument transferring stock of a particular kind on sale to a person or the person's nominee

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