Finance Act 1999

123 Construction of this Part and other supplementary provisions. U.K.

(1) This Part—

(a) so far as it relates to stamp duty shall be construed as one with the M1 Stamp Act 1891, and

(b) so far as it relates to stamp duty reserve tax shall be construed as one with Part IV of the M2 Finance Act 1986.

(2) In this Part—

(a) “the enactments relating to stamp duty” means the Stamp Act 1891 and any enactment amending or which is to be construed as one with that Act; and

(b) “the enactments relating to stamp duty reserve tax” means Part IV of the M3 Finance Act 1986 and any enactment amending or which is to be construed as one with that Part.

(3) The following provisions of this Part shall cease to have effect on the day appointed under section 111(1) of the M4 Finance Act 1990 (abolition of stamp duty for securities etc.)—

• section 113;

• sections 116 to 121;

• subsections (1)(b) and (2)(b) of this section;

• in Schedule 13—

  • paragraph 3,

  • in paragraph 4 the words “in the case of any other conveyance or transfer on sale”,

  • paragraph 7(1)(b)(ii) to (iv),

  • paragraph 24(a)F1 ... and (d);

• in Schedule 14, paragraphs 5, 8, 12, 13, 16 to 21 and 23;

• Schedule 15;

• in Schedule 16, paragraphs 2 to 11;

• in Schedule 17, paragraphs 6 to 8;

• [F2 Parts I and III] of Schedule 19;

• in Part IV of that Schedule, the words “and the enactments relating to stamp duty reserve tax” in paragraphs 14(1), 15, 16, 17(1) and 18(1).

(4) The amendment by this Part, or the repeal in consequence of this Part, of any enactment relating to stamp duty does not affect that enactment as applied for any purpose other than stamp duty.

Textual Amendments

F1 Word in s. 123(3) omitted (19.7.2011) by virtue of Finance Act 2011 (c. 11), Sch. 26 para. 7(2)(a)

F2 Words in s. 123(3) substituted (with effect in accordance with s. 114(4) of the amending Act) by Finance Act 2014 (c. 26), s. 114(3)(a)

Marginal Citations

M1 1891 c.39.

M2 1986 c.41.

M3 1986 c.41.

M4 1990 c.29.