Railways Act 1993

3 (1) An agreement to transfer chargeable securities, as defined in section 99 of the [1986 c. 41.] Finance 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—

(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.