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The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) Regulations 2013

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This is the original version (as it was originally made).

Amendments to the Finance Act 1991

This section has no associated Explanatory Memorandum

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”.

(1)

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.

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