PART 8Consequential amendments
Amendments to the Finance Act 1991I120
1
The Finance Act 199162 is amended as follows.
2
In section 116 (investment exchanges and clearing houses: stamp duty)—
a
for subsection (1)(b) substitute—
b
involve a prescribed relevant entity, or a member or nominee (or member or nominee of a prescribed description) of such a relevant entity, or a nominee (or nominee of a prescribed description) of a member of such a relevant entity, and
b
at the end of subsection (4)(a) insert “and”;
c
for paragraphs (b) and (c) of subsection (4) substitute—
b
“relevant entity” means any of the following—
i
a regulated market and a multilateral trading facility (within the meaning of the Directive);
ii
a recognised clearing house, a recognised investment exchange, an EEA central counterparty and a third country central counterparty (within the meaning of section 285 of the Financial Services and Markets Act 2000).
3
In section 117 (investment exchanges and clearing houses: SDRT) for subsection (1)(b) substitute—
b
involve a prescribed relevant entity, or a member or nominee (or member or nominee of a prescribed description) of such a relevant entity, or a nominee (or nominee of a prescribed description) of a member of such a relevant entity, and