2 Specified securities.U.K.
(1)In this Act “specified securities” means, subject to subsection (2) below, securities for the time being specified in the list in Schedule 1 to this Act.
(2)Notwithstanding that a security may at any time be specified as mentioned in subsection (1) above, it is not at that time a specified security for the purposes of this Act if, on a transfer of it at that time effected by a written instrument, that instrument would be liable to stamp duty.
(3)The Treasury may from time to time, after consultation with the Bank of England, by order—
(a)add a security or class of securities to the list in Schedule 1 to this Act; or
(b)remove a security or class of securities from that list (whether the security or class of securities was included in the list as originally enacted or was added by virtue of this subsection).
(4)The power to make an order under subsection (3) above shall be exercisable by statutory instrument which shall be laid before Parliament after being made.
Subordinate Legislation Made
P1S. 2: for exercise of power, see Index to Government Orders.
P2S. 2(3): power exercised by S.I. 1991/340.