187Territorial scope of the tax
(1)In section 86 of the [1986 c. 41.] Finance Act 1986 (introduction) after subsection (3) there shall be added—
“(4)Stamp duty reserve tax shall be chargeable in accordance with the provisions of this Part of this Act—
(a)whether the agreement, transfer, issue or appropriation in question is made or effected in the United Kingdom or elsewhere, and
(b)whether or not any party is resident or situate in any part of the United Kingdom.”
(2)The amendment made by subsection (1) above shall have effect—
(a)in relation to an agreement, if—
(i)the agreement is conditional and the condition is satisfied on or after 1st July 1996; or
(ii)the agreement is not conditional and is made on or after that date; and
(b)in relation to a transfer, issue or appropriation made or effected on or after that date.