# The Stamp Duty (Exempt Instruments) Regulations 1987, Note: Explanatory note


(This note is not part of the Regulations)
Section 87(2) of the Finance Act 1985 provides that instruments which would otherwise be chargeable with stamp duty of a fixed amount under any provision specified in regulations shall not be so charged if they are of a kind specified in regulations and certified to be instruments of that kind.
These Regulations specify the provisions under which, subject to conditions, that duty shall not be charged; specify the instruments (executed on or after 1st May 1987) in relation to which the exemption is available; and provide for the certification requirements.
Regulation 1 provides the title and commencement date.
Regulation 2 provides the conditions for the exemption.
Regulation 3 provides for the requirements for the certificate and the conditions which have to be fulfilled.
Regulation 4 introduces the Schedule which specifies the instruments which may qualify for the exemption provided by regulation 2.
Regulation 5 dispenses with the requirement of adjudication in accordance with section 12 of the Stamp Act 1891 as required by sections 82(5) and 84(9) of the Finance Act 1985.

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Source: https://www.legislation.gov.uk/uksi/1987/516/note (the official version)
Page: https://openlegislation.uk/stamp-duty-exempt-instruments-regulations-1987/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.