{
  "url": "https://openlegislation.uk/stamp-duty-reserve-tax-virt-x-exchange-limited-amendment-regulations-2003/note",
  "json_url": "https://openlegislation.uk/stamp-duty-reserve-tax-virt-x-exchange-limited-amendment-regulations-2003/note.json",
  "legislation": "uksi/2003/2078",
  "legislation_title": "The Stamp Duty Reserve Tax (virt-x Exchange Limited) (Amendment) Regulations 2003",
  "legislation_url": "https://openlegislation.uk/stamp-duty-reserve-tax-virt-x-exchange-limited-amendment-regulations-2003",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Regulations)\nThese Regulations amend the Stamp Duty Reserve Tax (virt-x Exchange Limited) Regulations 1995 (S.I. 1995/2051) (“the principal Regulations”). The purpose of the amendments is to extend the existing exemptions from stamp duty reserve tax in relation to virt-x Exchange Limited (“virt-x”) which apply to certain transactions involving The London Clearing House Limited and its members to similar transactions which involve SIS x-clear Aktiengesellschaft (“x-clear”) and its members. X-clear is a member in relation to virt-x, and, as regards trades between its own members (who are also members in relation to virt-x), performs the same role as The London Clearing House Limited performs for its members.\nRegulation 1 provides for citation and commencement.\nRegulation 2 introduces the amendments to the principal Regulations.\nRegulation 3 amends regulation 2 of the principal Regulations.\nRegulation 4 amends regulation 4 of the principal Regulations.\nRegulation 5 amends regulation 5(2) of the principal Regulations.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2003/2078/note",
    "retrieved_at": "2026-10-29T06:03:21.526475+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."
}