{
  "url": "https://openlegislation.uk/finance-act-1984/section-126",
  "json_url": "https://openlegislation.uk/finance-act-1984/section-126.json",
  "legislation": "ukpga/1984/43",
  "legislation_title": "Finance Act 1984",
  "legislation_url": "https://openlegislation.uk/finance-act-1984",
  "path": "section/126",
  "kind": "section",
  "number": "126",
  "heading": "Tax exemptions in relation to designated international organisations.",
  "text": "(1) Where—\n(a) the United Kingdom or any of the European Union is a member of an international organisation; and\n(b) the agreement under which it became a member provides for exemption from tax, in relation to the organisation, of the kind for which provision is made by this section; the Treasury may, by order made by statutory instrument, designate that organisation for the purposes of this section.\n(2) Where an organisation has been so designated, the provisions mentioned in subsection (3) below shall, with the exception of any which may be excluded by the designation order, apply in relation to that organisation.\n(3) The provisions are—\n(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(b) any security issued by the organisation shall be taken, for the purposes of capital transfer tax . . ., to be situated outside the United Kingdom; and\n(c) no stamp duty shall be chargeable under Schedule 15 to the Finance Act 1999 (bearer instruments)in Schedule 1 to the Stamp Act 1891 ... on the transfer of the stock constituted by, or transferable by means of, any instrument issued by the organisation.\n(d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(4) The Treasury may, by order made by statutory instrument, designate any of the European Union or the European Investment Bank for the purposes of this section, and references in subsections (2) and (3) above to an organisation designated for the purposes of this section include references to a body so designated by virtue of this subsection.\n(5) Subsection (3) above, as it applies by virtue of subsection (4) above, shall be read as if the words Schedule 15 to the Finance Act 1999 (bearer instruments) were omitted",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Act substituted (22.4.2011) by The Treaty of Lisbon (Changes in Terminology) Order 2011 (S.I. 2011/1043), arts. 2, 3, 4 (with arts. 3(2)(3), 4(2), 6(4)(5))"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "S. 126(3)(a) repealed by Income and Corporation Taxes Act 1988 (c. 1), s. 844, Sch. 31"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in s. 126(3)(b) repealed (in relation to tax for the year 1992-1993 and subsequent years subject as mentioned in s. 289 of the amending Act) by Taxation of Chargeable Gains Act 1992 (c. 12), s. 290, Sch.12 (with ss. 101(1), 201(3), Sch. 11 paras. 20, 22, 26, 27)."
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in s. 126(3)(c) substituted (with application in accordance with s. 113(4) of the amending Act) by Finanace Act 1999 (c. 16) s. 113(3), {Sch. 16 para. 4}"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Words in s. 126(3)(c) omitted (with effect in accordance with Sch. 11 para. 25 of the amending Act) by virtue of Finance Act 2024 (c. 3), Sch. 11 para. 21(2)"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "S. 126(3)(d) omitted (with effect in accordance with Sch. 11 para. 25 of the amending Act) by virtue of Finance Act 2024 (c. 3), Sch. 11 para. 21(3)"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "S. 126(4) inserted by Finance Act 1985 s. 96(1)"
    },
    {
      "type": "F",
      "label": "F8",
      "text": "S. 126(5) inserted by Finance Act 1985 s. 96(1)"
    },
    {
      "type": "F",
      "label": "F9",
      "text": "Words in s. 126(5) substituted (with application in accordance with s. 113(4) of the amending Act) by Finanace Act 1999 (c. 16) s. 113(3) {Sch. 16 para. 4}"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "The Asian Development Bank so designated by S.I. 1984 No. 1215 and the African Development Bank by S.I. 1984 No. 1634"
    },
    {
      "type": "P",
      "label": "P1",
      "text": "S. 126: power previously exercised by S.I. 1984/1215 and 1634; 1985/1172."
    },
    {
      "type": "P",
      "label": "P2",
      "text": "S. 126(1): s. 126(1) power exercised by S.I. 1991/1202."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1984/43/section/126",
    "retrieved_at": "2026-10-29T10:01:35.028197+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."
}