{
  "url": "https://openlegislation.uk/finance-act-1986/section-97B",
  "json_url": "https://openlegislation.uk/finance-act-1986/section-97B.json",
  "legislation": "ukpga/1986/41",
  "legislation_title": "Finance Act 1986",
  "legislation_url": "https://openlegislation.uk/finance-act-1986",
  "path": "section/97B",
  "kind": "section",
  "number": "97B",
  "heading": "Transfer between depositary receipt system and clearance system.",
  "text": "(1) There shall be no charge to tax under section 93 or 96 above where securities are transferred between a depositary receipt system and a clearance system.\n(1A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(2) A transfer between a depositary receipt system and a clearance system means a transfer—\n(a) from (or to) a company which at the time of the transfer falls within section 67(6) above, and\n(b) to (or from) a company which at that time falls within section 70(6) above.\n(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 above in relation to the clearance services for the purposes of which the securities are held immediately before the transfer.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "S. 97B inserted (with effect in as mentioned in s. 134(5)(b) of the amending Act) by Finance Act 2000 (c. 17), s. 134(2)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "S. 97B(1A) 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. 16"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1986/41/section/97B",
    "retrieved_at": "2026-10-29T09:56:06.979637+00:00",
    "licence": "OGL-UK-3.0",
    "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."
  }
}