Paragraph 20 Friendly Societies Act 1992

After section 105 of the Friendly Societies Act 1992^f1 insert—

“Stamp duty land tax

105A.

(1)

A land transaction effected by or in consequence of—

(a)

an amalgamation of two or more friendly societies under section 85^f2,

(b)

a transfer of the engagements of a friendly society under section 86^f3; or

(c)

a transfer of the engagements of a friendly society pursuant to a direction given by the Authority under section 90^f4,

is exempt from charge for the purposes of stamp duty land tax.

(2)

Relief under this section must be claimed in a land transaction return or an amendment of such a return.

(3)

In this section—

• “land transaction” has the meaning given by section 43(1) of the Finance Act 2003;

• “land transaction return” has the meaning given by section 76(1) of that Act.”.