3(1)An agreement to transfer chargeable securities, as defined in section 99 of the M1Finance Act 1986, to a person falling within paragraphs (a) to (e) of section 85(1) of this Act shall not give rise to a charge to stamp duty reserve tax if the agreement is made for the purposes of, or for purposes connected with, a restructuring scheme made—U.K.
(a)by the Secretary of State;
(b)by the Board, pursuant to a direction given by the Secretary of State under this Act; or
(c)by the Franchising Director, pursuant to a direction so given.
(2)An agreement shall not give rise to a charge to stamp duty reserve tax if the agreement is made in pursuance of Schedule 8 to this Act in connection with a restructuring scheme made as mentioned in paragraph (a), (b) or (c) of sub-paragraph (1) above.
Marginal Citations