SCHEDULE 21 Exemptions From Stamp Duty and SDRT: Intermediaries, Repurchases etc
Finance Act 2007 (2007 c 11) | Legislation

SCHEDULE 21 Exemptions From Stamp Duty and SDRT: Intermediaries, Repurchases etc

Section 73

Intermediaries

1

(1)ÌýÌýÌýÌý Section 80A of FA 1986 (exemption from stamp duty: sales to intermediaries) is amended as follows.

(2)ÌýÌýÌýÌý For subsections (1) to (3) substitute—

“(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)

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Direct discrimination

Direct discriminationIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an

LEXISNEXIS

Community order requirements

Community order requirementsThis Practice Note reflects the procedural code for sentencing offenders in England and Wales (Sentencing Code) that applies from 1 December 2020, as set out in Parts 2–13 of the Sentencing Act 2020 (SA 2020). For those considering whether the Sentencing Code applies to

LEXISNEXIS

Scotland: the Accountant in Bankruptcy

Scotland: the Accountant in BankruptcyThe office of the Accountant in Bankruptcy (AiB) was created by section 156 of the Bankruptcy (Scotland) Act 1856 . Previously, the functions of the AiB were limited but since 1993, with the enactment of the Bankruptcy (Scotland) Act 1993 (B(S)A 1993), the role

LEXISNEXIS

Traditional procurement of construction contracts

Traditional procurement of construction contractsThis Practice Note provides a basic explanation of traditional procurement in construction. It looks at why this type of procurement is used and also considers particular issues to take into account when choosing to follow this procurement route.When