http://www.legislation.gov.uk/uksi/2008/3236/contents/made

The Stamp Duty Reserve Tax (Amendment of section 89AA of the Finance Act 1986) Regulations 2008

Stamp duties

Tax

en

King's Printer of Acts of Parliament

2011-07-04

STAMP DUTY RESERVE TAX

Section 89AA of the Finance Act 1986 provides that where chargeable securities are transferred under a stock lending or sale and repurchase arrangement, both the outward and the return delivery are relieved from Stamp Duty Reserve Tax, reflecting the temporary nature of the arrangement. The relief is subject to certain conditions including that securities of the same kind and amount must be returned to the lender or seller at the end of the arrangement.