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Coal Industry Act 1994

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Changes over time for: Cross Heading: Stamp duty

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Point in time view as at 13/10/2003.

Changes to legislation:

Coal Industry Act 1994, Cross Heading: Stamp duty is up to date with all changes known to be in force on or before 05 December 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

Stamp dutyE+W+S

27(1)Subject to sub-paragraph (2) below, an exempt transaction shall not give rise to any charge to stamp duty except in so far as the charge to duty is on an instrument under this Act which is neither a restructuring scheme nor an instrument that has been certified to the Commissioners of Inland Revenue by the Secretary of State to have been made—E+W+S

(a)in pursuance of a restructuring scheme; or

(b)by virtue of any provision of this Act, for the purpose of modifying the effect of such a scheme.

(2)No instrument which is certified as mentioned in sub-paragraph (1) above shall be taken to be duly stamped unless—

(a)it is stamped with the duty to which it would, but for that sub-paragraph, be liable; or

(b)it has, in accordance with section 12 of the M1Stamp Act 1891, been stamped with a particular stamp denoting that it is not chargeable with that duty or that it is duly stamped.

(3)Stamp duty shall not be chargeable on any instrument by which the Treasury or the Secretary of State, or any nominee of the Treasury or the Secretary of State, transfers securities of a company to another company if—

(a)at least one of those companies is a successor company; and

(b)each of the companies is wholly owned by the Crown at the time when the instrument is made.

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