PART IIISTAMP DUTY

Reconstructions and acquistions

74 Reconstructions etc: repeals.

1

The following provisions shall cease to have effect—

a

section 55 of the M1Finance Act 1927 and section 4 of the M2Finance Act (Northern Ireland) 1928 (reconstructions and amalgamations);

b

paragraph 12(1) and (1A) of Schedule 18 to the M3Finance Act 1980 (demergers);

c

sections 78, 79 and 80 of the Finance Act 1985 (takeovers and winding-up).

2

In paragraph 12(3) of Schedule 18 to the Finance Act 1980 for the words “sub-paragraph (2) above” there shall be substituted the words “this paragraph”.

3

This section applies to any instrument executed in pursuance of a contract made on or after the day on which the rule of The Stock Exchange that prohibits a person from carrying on business as both a broker and a jobber is abolished.