OpenLegislation

Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Regulations)

These Regulations amend the Stamp Duty Reserve Tax Regulations 1986 (“the Principal Regulations”), which provide for the management of stamp duty reserve tax imposed by Part IV of the Finance Act 1986 (“the Act”).

Regulation 1 gives the title and commencement date.

Regulation 2 defines the Principal Regulations.

Regulation 3 amends the definition of “accountable person” in regulation 2 of the Principal Regulations in relation to a charge under section 87 of the Act.

Regulation 4 inserts in regulation 2 of the Principal Regulations a definition of “broker and dealer”.

Regulation 5 inserts in regulation 2 of the Principal Regulations a definition of “market maker”.

Regulation 6 amends the definition of “qualified dealer” in regulation 2 of the Principal Regulations.

Regulation 7 amends regulation 20(3) of the Principal Regulations.

Regulation 8 amends Part I of the Schedule to the Principal Regulations.

Regulation 9 amends Part II of the Schedule to the Principal Regulations.