# Finance Act 1986, Section 72A: Transfers between depositary receipt system and clearance system.

Extent: E+W+S+N.I.

(1) Where an instrument transfers relevant securities of a company incorporated in the United Kingdom between a depositary receipt system and a clearance system—
(a) the provisions of section 67(2) to (5) or, as the case may be, section 70(2) to (5) above shall not apply, and
(b) stamp duty is not chargeable on the instrument.
(2) A transfer between a depositary receipt system and a clearance system means a transfer—
(a) from (or to) a company that at the time of the transfer falls within section 67(6) above, and
(b) to (or from) a company that at that time falls within section 70(6) above.
(3) This section does not apply to a transfer from a clearance system (that is, from such a company as is mentioned in subsection (2)(b) above) if at the time of the transfer an election is in force under section 97A below in relation to the clearance services for the purposes of which the securities are held immediately before the transfer.

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Source: https://www.legislation.gov.uk/ukpga/1986/41/section/72A (the official version)
Page: https://openlegislation.uk/finance-act-1986/section-72A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.