# The European Single Currency (Taxes) Regulations 1998, Regulation 26: Replacement of chargeable securities in a euroconversion


(1) This regulation applies in a case where—
(a) there is an arrangement involving the transfer of chargeable securities to which subsection (1)(a) of section 89AA of the Finance Act 1986 (repurchases and stock lending—exemption from stamp duty reserve tax) applies, and
(b) there is a euroconversion of those chargeable securities (“the old chargeable securities”), effected wholly or partly by the issue of new chargeable securities to replace the old chargeable securities.
(2) The new chargeable securities shall be regarded, for the purposes of section 89AA of the Finance Act 1986, as chargeable securities of the same kind and amount as the old chargeable securities.

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Source: https://www.legislation.gov.uk/uksi/1998/3177/regulation/26 (the official version)
Page: https://openlegislation.uk/european-single-currency-taxes-regulations-1998/regulation-26
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.