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Paragraph 17 C1

United Kingdom

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

  • Sch. 19 Pt. 4 para. 14 15 16 17 repealed in part (prosp.) by Finance Act 1999 s. 123(3) s. 123(4) 139 Sch. 20 Pt. 5(6) Note
  • Sch. 19 Pt. 2 defn(s). applied (6.2.2000) by Finance Act 1999 s. 122(4) Sch. 19 Pt. 3 para. 11(4)(6) (adding 1986 c. 41 s. 90(1B))
(1)

The Treasury may by regulations provide that any scheme of a description specified in the regulations shall be treated as not being a unit trust scheme for the purposes of the enactments relating to stamp duty and the enactments relating to stamp duty reserve tax.

(2)

Regulations under this paragraph—

(a)

may contain such supplementary and transitional provisions as appear to the Treasury to be necessary or expedient, and

(b)

shall be made by statutory instrument which shall be subject to annulment in pursuance of a resolution of the House of Commons.

(3)

This paragraph replaces section 57(1A) and (1B) of the M1Finance Act 1946 and section 28(1A) and (1B) of the M2Finance (No.2) Act (Northern Ireland) 1946.

(4)

Any regulations having effect under those provisions for the purposes of Part VII of the Finance Act 1946 or Part III of the Finance (No.2) Act (Northern Ireland) 1946 which are in force immediately before the commencement of this Schedule shall have effect as if made under this paragraph.

Annotations

Marginal citations

M1

1946 c.64.

M2

1946 c.17(N.I.).

Modifications

C1

Sch. 19 para. 17 modified (6.2.2000) by S.I. 1997/1156, reg. 4A(4) (as inserted (6.2.2000) by S.I. 1999/3261,reg. 5)