Part VI Stamp duty and stamp duty reserve tax
Stamp duty reserve tax
120 Minor amendments of exceptions to general charge.
1
Section 90 of the Finance Act 1986 (exceptions from the general charge to stamp duty reserve tax) is amended as follows.
2
In subsection (3F)(c) (conditions of exception under subsection (3E)) for “securities which are not listed” substitute “
chargeable securities which are not listed
”
.
3
In subsection (5) for “by a person” substitute “
for the purposes of a business
”
; and in subsection (6) for “A person is within this subsection if his business is exclusively” substitute “
A business is within this subsection if, or so far as, it consists of
”
.
4
Subsection (2) above applies to instruments issued on or after 9th March 1999.
5
Subsection (3) above applies to agreements to transfer securities made on or after 9th March 1999.