Explanatory note

These Regulations extend the stamp duty and stamp duty reserve tax exemptions for sales of stock to intermediaries and for repurchase and stock lending (sections 80A, 80C, 88A and 89AA of the Finance Act 1986 (c. 41)) to the multilateral trading facility known as Instinet Chi-X and operated by Instinet Europe Ltd.

Regulation 1 provides for citation and commencement

Regulation 2 provides for the extended application of the sections of the Finance Act 1986 mentioned above and applies the adaptations to those sections as they apply to the prescribed multilateral trading facilities listed in the Stamp Duty and Stamp Duty Reserve Tax (Extension of Exceptions relating to Recognised Exchanges) Regulations 2005 (S.I. 2005/1990).

These Regulations do not impose any new costs on business.