Finance Act 1999 (c. 16)

SCHEDULES

SCHEDULE 15 U.K. Stamp duty: bearer instruments

Modifications etc. (not altering text)

C1 Sch. 15 modified (27.7.1999 with effect as mentioned in s. 113(4) of 1999 c. 16) by 1988 c. 39, s. 143(4)(a) (as inserted (27.7.1999 with effect as mentioned in s. 113(4) of the amending Act) by 1999 c. 16, s. 113(3), Sch. 16 para. 11)

Part II U.K. Exemptions

[F1 Substitute instruments U.K.

Textual Amendments

F1 Sch. 15 para. 12A and cross-heading inserted (with effect in accordance with s. 99(2) of the amending Act) by Finance Act 2008 (c. 9), Sch. 32 para. 11(3)

12A (1) Stamp duty is not chargeable on a substitute instrument. U.K.

(2) A substitute instrument is a bearer instrument given in substitution for a like instrument stamped ad valorem (whether under this Schedule or otherwise) (“the original instrument”).

(3) The substitute instrument shall not be treated as duly stamped unless it appears by some stamp F2 ... on it that the full and proper duty has been paid on the original instrument.]

Textual Amendments

F2 Word in Sch. 15 para. 12A(3) omitted (22.4.2019) by virtue of The Stamp Duty (Method of Denoting Duty) Regulations 2019 (S.I. 2019/719), regs. 1, 4(a)(ii)