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

Variation of original terms or conditions U.K.

20 U.K. Where a bearer instrument issued by or on behalf of a non-UK company in respect of a loan expressed in sterling—

(a) has been stampedad valorem, or

(b) has been stamped with duty under paragraph 6 above (fixed duty on instrument given in substitution for another instrument stampedad valorem), or

(c) has been stamped with the denoting stamp referred to in paragraph 21(2)(b) below,

duty is not chargeable under this Schedule by reason only that the instrument is amended on its face pursuant to an agreement for the variation of any of its original terms or conditions.