Part III Minor and Consequential Amendments
Finance Act 1999 (1999 c 16) | Legislation

Part III Minor and Consequential Amendments

Finance Act 1986 (c 41)

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In section 88(1) of the Finance Act 1986 (instruments exempt from stamp duty disregarded for the purpose of repayment etc of stamp duty reserve tax), after paragraph (b) insert—

“, or

(c)ÌýÌýÌýÌý Part I of Schedule 19 to the Finance Act 1999 (transfers etc of units in unit trusts),â€.

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(1)ÌýÌýÌýÌý Section 90 of the Finance Act 1986 (exceptions from general charge to stamp duty reserve tax) is amended as follows.

(2)ÌýÌýÌýÌý In subsection (1) (transfer of unit to managers of unit trust scheme) for “to the managers†substitute “to or from the managersâ€.

(3)ÌýÌýÌýÌý After that subsection insert—

“(1´¡)ÌýÌýÌýÌý Section 87 above shall not apply as regards an agreement to transfer a unit under a unit trust scheme if an instrument executed at the same time as the agreement and giving effect to the agreement would be exempt from stamp duty (if stamp duty were otherwise chargeable) by virtue of—

(a)ÌýÌýÌýÌý section 42 of the Finance

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