SCHEDULES
SCHEDULE 19 Stamp duty and stamp duty reserve tax: unit trusts
Part IV General definitions
Meaning of “unit trust scheme” and related expressions
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1
The following definitions apply for the purposes of the enactments relating to stamp duty and the enactments relating to stamp duty reserve tax.
2
“Unit trust scheme” has F1the meaning given by section 237(1) of the Financial Services and Markets Act 2000, subject to paragraphs 15 to 18.
3
In relation to a unit trust scheme—
“trust instrument” means the trust deed or other instrument (whether under seal or not) creating or recording the trusts on which the property in question is held;
“trust property” means the property subject to the trusts of the trust instrument;
“unit” means a right or interest (whether described as a unit, as a sub-unit or otherwise) of a beneficiary under the trust instrument;
“unit holder” means a person entitled to a share of the trust property; and
“certificate to bearer”, in relation to a unit, means a document by the delivery of which the unit can be transferred.