20.—(1) The Finance Act 1991(1) 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”.
Commencement Information
I1Reg. 20 in force at 1.4.2013 in accordance with reg. 1(2)
1991 c. 31; section 116 was amended by paragraph 5 of Schedule 20 to the Financial Services and Markets Act 2000 (c.8), paragraph 7 of Schedule 21 to the Finance Act 2007 (c.11) and section 65 of the Finance Act 2010 (c.13); section 117 was amended by section 65 of the Finance Act 2010.