
Print Options
PrintThe Whole
Act
PrintThe Whole
Schedule
PrintThe Whole
Part
PrintThis
Cross Heading
only
Changes over time for: Cross Heading: Instruments relating to non-sterling stock


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Version Superseded: 22/02/2024
Status:
Point in time view as at 06/04/2010.
Changes to legislation:
Finance Act 1999, Cross Heading: Instruments relating to non-sterling stock is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

Changes to Legislation
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
Instruments relating to non-sterling stockU.K.
17(1)Stamp duty is not chargeable under this Schedule on the issue of an instrument which relates to stock expressed—U.K.
(a)in a currency other than sterling, or
(b)in units of account defined by reference to more than one currency (whether or not including sterling),
or on the transfer of the stock constituted by or transferable by means of any such instrument.
(2)Where the stock to which the instrument relates consists of a loan for the repayment of which there is an option between sterling and one or more other currencies, sub-paragraph (1) applies if the option is exercisable only by the holder of the stock and does not apply in any other case.
18U.K.Where the capital stock of a company is not expressed in terms of any currency, it shall be treated for the purposes of paragraph 17 as expressed in the currency of the territory under the law of which the company is formed or established.
19(1)A unit under a unit trust scheme or a share in a foreign mutual fund shall be treated for the purposes of paragraph 17 as capital stock of a company formed or established in the territory by the law of which the scheme or fund is governed.U.K.
(2)A “foreign mutual fund” means a fund administered under arrangements governed by the law of a territory outside the United Kingdom under which subscribers to the fund are entitled to participate in, or receive payments by reference to, profits or income arising to the fund from the acquisition, holding, management or disposal of investments.
(3)In relation to a foreign mutual fund “share” means the right of a subscriber, or of another in his right, to participate in or receive payments by reference to profits or income so arising.
Back to top