Finance Act 2011

Dealing etc in securities

19 (1) Each of the following is a relevant data-holder—

(a) a person who effects or is a party to securities transactions wholly or partly on behalf of others (whether as agent or principal),

(b) a person who, in the course of business, acts as registrar or administrator in respect of securities transactions (including a person who manages a clearing house for any terminal market in securities),

(c) a person who makes a payment derived from securities to anyone other than the registered or inscribed holder of the securities,

(d) a person who makes a payment derived from bearer securities, and

(e) an accountable person within the meaning of the Stamp Duty Reserve Tax Regulations 1986 (S.I. 1986/1711).

(2) “Payment derived from securities” has the same meaning as in paragraph 14 (and “payment derived from bearer securities” is to be read accordingly).

(3) “Securities transactions” means—

(a) transactions in securities,

(b) transactions under which a representative payment has been, is to be or may be made, or

(c) the making or receipt of a representative payment.

(4) In sub-paragraph (3)—

• “representative payment” means a payment that is representative of an amount payable out of or in respect of securities or rights attaching to securities;

• “transactions in securities” means transactions, of whatever description, relating to securities, and includes in particular—

  (a)

  the purchase, sale or exchange of securities,

  (b)

  issuing or securing the issue of new securities,

  (c)

  applying or subscribing for new securities, and

  (d)

  altering or securing the alteration of rights attached to securities.