Section 20 Capital-raising arrangements etc

United Kingdom

Schedule 11 makes provision for and in connection with ensuring that it continues to be the case that—

(a)

no 1.5% charge to stamp duty or stamp duty reserve tax arises in relation to—

(i)

issues of securities or stock, or

(ii)

transfers of securities made in the course of capital-raising arrangements or qualifying listing arrangements, and

(b)

no charge to stamp duty arises in relation to the issue of bearer instruments.