{
  "url": "https://openlegislation.uk/stamp-duty-reserve-tax-tradepoint-regulations-1995/regulation-4",
  "json_url": "https://openlegislation.uk/stamp-duty-reserve-tax-tradepoint-regulations-1995/regulation-4.json",
  "legislation": "uksi/1995/2051",
  "legislation_title": "The Stamp Duty Reserve Tax (Tradepoint) Regulations 1995",
  "legislation_url": "https://openlegislation.uk/stamp-duty-reserve-tax-tradepoint-regulations-1995",
  "path": "regulation/4",
  "kind": "regulation",
  "number": "4",
  "heading": "Prescribed circumstances for the purposes of section 117",
  "text": "(1) In the circumstances prescribed by paragraph (2) below, a charge to stamp duty reserve tax shall be treated as not arising.\n(2) The circumstances prescribed are where, in connection with a transaction made on the Exchange—\n(a) equity securities of a particular kind are agreed to be transferred—\n(i) from a clearing participant or a nominee of a clearing participant to another clearing participant or nominee, or\n(ii) from a non-clearing participant or a client to a clearing participant or a nominee of a clearing participant, or\n(iii) from a clearing participant or a nominee of a clearing participant to The London Clearing House Limited or to a nominee of that clearing house, or\n(iv) from a person other than a clearing participant to The London Clearing House Limited or to a nominee of that clearing house, as a result of a failure by a clearing participant to fulfil his obligations in respect of the transaction concerned to transfer equity securities to The London Clearing House Limited or to a nominee of that clearing house, or\n(v) from The London Clearing House Limited or a nominee of that clearing house to a clearing participant or a nominee of a clearing participant; and\n(b) the person to whom those securities are agreed to be transferred under any of the agreements specified in sub-paragraph (a) above (“the relevant agreement”) is required on receipt of those shares to transfer equity securities under a matching agreement to another person or, in the case of an agreement falling within paragraph (iv) of that sub-paragraph, would have been so required if the failure referred to in that paragraph had not occurred.\n(3) In paragraph (2) above—\n(a) “matching agreement” means an agreement under which—\n(i) the equity securities agreed to be transferred are of the same kind as the equity securities agreed to be transferred under the relevant agreement, and\n(ii) the number and transfer price of the equity securities agreed to be transferred are identical to the number and transfer price of the equity securities agreed to be transferred under the relevant agreement;\n(b) references to The London Clearing House Limited are references to that clearing house in its capacity as a person providing clearing services in connection with a transaction made on the Exchange;\n(c) references to a clearing participant are references to a clearing participant in his capacity as such.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "am",
      "affecting": "uksi/2003/2078",
      "affecting_title": "The Stamp Duty Reserve Tax (virt-x Exchange Limited) (Amendment) Regulations 2003"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1995/2051/regulation/4",
    "retrieved_at": "2026-10-29T13:04:18.333016+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}