{
  "url": "https://openlegislation.uk/transport-act-1982/section-6",
  "json_url": "https://openlegislation.uk/transport-act-1982/section-6.json",
  "legislation": "ukpga/1982/49",
  "legislation_title": "Transport Act 1982",
  "legislation_url": "https://openlegislation.uk/transport-act-1982",
  "path": "section/6",
  "kind": "section",
  "number": "6",
  "heading": "Stamp duty on certain transactions.",
  "text": "(1) Stamp duty shall not be chargeable under section 47 of the Finance Act 1973 in respect of—\n(a) the formation of a subsidiary of the Bus Company; or\n(b) any increase in the capital of such a subsidiary;\nif the transaction concerned is certified by the Treasury as satisfying the requirements of subsections (2) and (3) below.\n(2) A transaction satisfies the requirements of this subsection if it is effected solely for the purpose—\n(a) of facilitating such an eventual disposal as is mentioned in section 2(1) of this Act; or\n(b) of complying with a direction given by the Secretary of State under section 3(1) of this Act.\n(3) A transaction satisfies the requirements of this subsection if it is entered into solely in connection with a transfer to be effected under section 2 of this Act, takes place on or before the transfer date and does not give rise to an excess of capital.\n(4) For the purposes of subsection (3) above a transaction gives rise to an excess of capital if—\n(a) in a case falling within subsection (1)(a) above the total issued capital of the subsidiary exceeds, on the transfer date, the total value of the assets less liabilities transferred; or\n(b) in a case falling within subsection (1)(b) above, the aggregate amount of the increase of issued capital of the subsidiary exceeds, on that date, that total value;\nand in this subsection “issued capital” means issued share capital or loan capital.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Pt. I (ss. 1-7) repealed (E.W.S.) by Transport Act 1985 (c. 67, SIF 126), s. 139(3), Sch. 8"
    },
    {
      "type": "M",
      "label": "M1",
      "text": "1973 c. 51."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1982/49/section/6",
    "retrieved_at": "2026-10-29T10:10:48.374130+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."
}