{
  "url": "https://openlegislation.uk/finance-act-1976/section-127",
  "json_url": "https://openlegislation.uk/finance-act-1976/section-127.json",
  "legislation": "ukpga/1976/40",
  "legislation_title": "Finance Act 1976",
  "legislation_url": "https://openlegislation.uk/finance-act-1976",
  "path": "section/127",
  "kind": "section",
  "number": "127",
  "heading": "Stamp duty: stock exchange transfers",
  "text": "(1) Stamp duty shall not be chargeable on any transfer to a stock exchange nominee which is executed for the purposes of a stock exchange transaction.\n(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(4) In section 33(1) of the Finance Act 1970 (composition by Stock Exchange in respect of transfer duty) after the words “\" the heading ” “Conveyance or Transfer on Sale ” there shall be inserted the words “ ““or”Conveyance or Transfer of any kind not hereinbefore described ” ”and the words “being instruments executed for the purposes of stock exchange transactions as defined in section 4(1) of the Stock Transfer Act 1963 ” shall be omitted.\n(5) This section shall be construed as one with the Stamp Act 1891 and in this section—\n“ jobber” means a member of The Stock Exchange who is recognised by the Council thereof as carrying on the business of a jobber and carries on that business in the United Kingdom;\n“stock exchange nominee” means any person designated for the purposes of this section as a nominee of The Stock Exchange by an order made by the Secretary of State;\n“stock exchange transaction ” has the meaning given in section 4 of the Stock Transfer Act 1963 .\n(6) The power to make an order under subsection (5) above shall be exercisable by statutory instrument and includes power to vary or revoke a previous order.\n(7) Section 33 of the Finance Act 1970 shall extend to Northern Ireland; and in the application of that section and this section to Northern Ireland for any reference to the Stock Transfer Act 1963 there shall be substituted a reference to the Stock Transfer Act (Northern Ireland) 1963 .",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "S. 127(2) repealed by Finance Act 1986 (c. 41, SIF 114), ss. 85(4), 114, Sch. 23 Pt. IX(4)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "S. 127(3) repealed by Finance Act 1986 (c. 41, SIF 114), s. 114, Sch. 23 Pt. IX(4)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "1891 c. 39."
    },
    {
      "type": "F",
      "label": "F4",
      "text": "1963 c. 18."
    },
    {
      "type": "F",
      "label": "F5",
      "text": "1970 c. 24."
    },
    {
      "type": "F",
      "label": "F6",
      "text": "1963 c. 24 (N. I.)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1976/40/section/127",
    "retrieved_at": "2026-10-29T10:30:05.616252+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}