Section 107 Stamp duty to be abolished on bearer instruments.F1

Stamp duty shall not be chargeable under Schedule 15 to the Finance Act 1999 (bearer instruments).

Subsection (1) above applies in relation to the charge under paragraph 1 of that Schedule (charge on issue) where the instrument is issued on or after the abolition day.

Subsection (1) above applies in relation to the charge under paragraph 2 of that Schedule (charge on transfer of stock) where the stock constituted by or transferable by means of the instrument is transferred on or after the abolition day.