SCHEDULES
SCHEDULE 32Stamp duty: abolition of fixed duty on certain instruments
Part 2Consequential provisions and saving
FA 1986
13
Part 3 of FA 1986 (stamp duty) is amended as follows.
14
1
Section 67 (stamp duty on certain transfers to depositary receipt systems) is amended as follows.
2
In subsection (1), after “instrument” insert “
(other than a bearer instrument)
”
.
3
In subsection (3), for the words from the beginning to “then,” substitute
In any other case—
a
stamp duty is chargeable on the instrument under this subsection, and
b
4
After subsection (9) insert—
9A
In this section “bearer instrument” has the meaning given in paragraph 3 of Schedule 15 to the Finance Act 1999.
15
1
Section 70 (stamp duty on certain transfers to a clearance system) is amended as follows.
2
In subsection (1), after “instrument” insert “
(other than a bearer instrument)
”
.
3
In subsection (3), for the words from the beginning to “then,” substitute
In any other case—
a
stamp duty is chargeable on the instrument under this subsection, and
b
4
After subsection (9) insert—
9A
In this section “bearer instrument” has the meaning given in paragraph 3 of Schedule 15 to the Finance Act 1999.