Finance Act 2008 (c. 9)

SCHEDULES

SCHEDULE 32 U.K. Stamp duty: abolition of fixed duty on certain instruments

Part 1 U.K. Abolition of fixed duty

FA 1986 U.K.

4 U.K. Part 3 of FA 1986 (stamp duty) is amended as follows.

5 U.K. In section 66 (company's purchase of own shares), omit subsection (2A) (fixed duty).

6 U.K. In section 67(9) (transfer of securities between depositary receipt systems), for “the stamp duty chargeable on the instrument is £5” substitute “ stamp duty is not chargeable on the instrument ”.

7 U.K. In section 70(9) (transfer of securities between clearance systems), for “the stamp duty chargeable on the instrument is £5” substitute “ stamp duty is not chargeable on the instrument ”.

8 U.K. In section 72A(1) (transfer of securities between depositary receipt system and clearance system), for paragraph (b) substitute—

“(b) stamp duty is not chargeable on the instrument.”