93 Depositary receipts [: 1.5% charge]
Finance Act 1986 (1986 c 41) | Legislation

Other charges [: depositary receipts]

93  Depositary receipts [: 1.5% charge]

(1)ÌýÌýÌýÌý . . . There shall be a charge to stamp duty reserve tax under this section where in pursuance of an arrangement—

(a)ÌýÌýÌýÌý a person falling within subsection (2) below has issued or is to issue a depositary receipt for chargeable securities, and

(b)ÌýÌýÌýÌý chargeable securities of the same kind and amount are transferred . . . to [the person mentioned in paragraph (a) above or] a person falling within subsection (3) below, or are appropriated by [the person mentioned in paragraph (a) above or a person falling within subsection (3) below] towards the eventual satisfaction of the entitlement of the receipt's holder to receive chargeable securities.

[(1A)ÌýÌýÌýÌý The following provisions contain exceptions to the charge to stamp duty reserve tax under this section—

(a)ÌýÌýÌýÌý subsection (7) of this section (exception so far as stamp duty is chargeable);

(b)ÌýÌýÌýÌý section 95 (general exceptions);

(c)ÌýÌýÌýÌý section 95A (replacement securities);

(d)ÌýÌýÌýÌý section 97AB (exempt capital-raising transfers);

(e)ÌýÌýÌýÌý section 97AC (exempt listing transfers);

(f)ÌýÌýÌýÌý section 97AD (exception for transfers of shares held by issuing company);

(g)ÌýÌýÌýÌý section

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