Article 4 Composition agreements in relation to stamp dutyI1

United Kingdom

(1)

Amend section 33 of the Finance Act 1970^f1 (composition agreements by certain bodies in relation to stamp duty chargeable on transfers of securities) as follows.

(2)

In subsection (1)—

(a)

for “recognised stock exchange” in the first place where it occurs substitute “recognised investment exchange or recognised clearing house”;

(b)

omit the definition of “recognised stock exchange”.

(3)

In subsections (2)(b), (c) and (d), (4) and (5) for “stock exchange” substitute “recognised investment exchange or recognised clearing house”.

(4)

After subsection (6) add—

“(7)

In this section “recognised investment exchange” and “recognised clearing house” have the meanings given by section 285(1) of the Financial Services and Markets Act 2000.”.

Annotations

Commencement

I1: Art. 4 in force at 1.12.2001, see art. 1(2)(a)

Footnotes

f1: Section 33 was relevantly amended by paragraph 5 of Schedule 14 to the Finance Act 1999.