120 Minor amendments of exceptions to general charge.U.K.
(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.