Section 117 Investment exchanges, clearing houses and central securities depositories: SDRTF2

(1)

The Treasury may make regulations providing as mentioned in this section with regard to any circumstances which—

(a)

would (apart from the regulations) give rise to a charge to stamp duty reserve tax,

F1(b)

involve a prescribed relevant entity, or a member or nominee (or member or nominee of a prescribed description) of such a relevant entity, or a nominee (or nominee of a prescribed description) of a member of such a relevant entity, and

(c)

are such as are prescribed.

(2)

The regulations may provide that the charge to stamp duty reserve tax shall be treated as not arising or (depending on the terms of the regulations) as reduced.

(3)

Subsections (3) and (4) of section 116 above shall apply for the purposes of this section as they apply for the purposes of that.

Annotations

Textual amendments

F1: S. 117(1)(b) substituted (1.4.2013) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) Regulations 2013 (S.I. 2013/504), regs. 1(2), 20(3) (with regs. 52-58)
F2: S. 117 heading substituted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), reg. 1, Sch. para. 6(3) (with regs. 7(4), 9(1))