- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
1Part 3 of FA 1985 (stamp duty) is amended as follows.
2In section 83 (transfers in connection with divorce, dissolution of civil partnership, etc), omit subsection (2) (fixed duty).
3In section 84 (death: varying dispositions, and appropriations)—
(a)omit subsections (8) and (9) (fixed duty and adjudication), and
(b)in subsection (11) (commencement), omit the words from “and,” to “subsection (8) above”.
4Part 3 of FA 1986 (stamp duty) is amended as follows.
5In section 66 (company’s purchase of own shares), omit subsection (2A) (fixed duty).
6In 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”.
7In 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”.
8In 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.”
9FA 1999 is amended as follows.
10(1)Schedule 13 (instruments chargeable to stamp duty and rates of duty) is amended as follows.
(2)In paragraph 1(5) (treasury shares), for the words from “any instrument” to the end substitute “sub-paragraph (1) does not apply to any instrument to which sub-paragraph (6) applies.”
(3)In Part 3 (other instruments chargeable to stamp duty and rates of duty) omit—
(a)paragraph 16 (fixed duty on transfer otherwise than on sale) and the heading before it,
(b)paragraph 17 (fixed duty on declaration of use or trust) and the heading before it,
(c)paragraph 18(2) (fixed duty on disposition of certain property in Scotland),
(d)paragraph 19(1) (fixed duty on duplicate or counterpart),
(e)paragraph 21(3) (fixed duty on partition or division),
(f)paragraph 22 (fixed duty on release or renunciation) and the heading before it, and
(g)paragraph 23 (fixed duty on surrender) and the heading before it.
11(1)Schedule 15 (stamp duty: bearer instruments) is amended as follows.
(2)Omit paragraph 6 (fixed duty on instrument given in substitution for a like instrument stamped ad valorem).
(3)At the beginning of Part 2 (exemptions) insert—
12A(1)Stamp duty is not chargeable on a substitute instrument.
(2)A substitute instrument is a bearer instrument given in substitution for a like instrument stamped ad valorem (whether under this Schedule or otherwise) (“the original instrument”).
(3)The substitute instrument shall not be treated as duly stamped unless it appears by some stamp impressed on it that the full and proper duty has been paid on the original instrument.”
(4)In paragraph 20 (variation of original terms or conditions), for paragraph (b) substitute—
“(b)has been stamped in accordance with paragraph 12A, or”.
(5)In paragraph 26 (instruments treated as duly stamped), omit paragraph (b) (and the “or” before it).
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