SCHEDULES

SCHEDULE 11TAXATION PROVISIONS

Stamp duty reserve tax

12

1

No agreement made for the purposes of or for purposes connected with a transfer scheme shall give rise to a charge to stamp duty reserve tax.

2

No agreement which is made in pursuance of Schedule 10 to this Act shall give rise to a charge to stamp duty reserve tax.

3

No agreement by which the Treasury or the Secretary of State, or any nominee of the Treasury or the Secretary of State, agrees to transfer securities of a company to another company shall give rise to a charge to stamp duty reserve

a

either or both of the companies are successor companies; and

b

each of the companies is, at the time when the agreement is made,

wholly owned by the Crown.