These Regulations revoke the Stamp Duty and Stamp Duty Reserve Tax (Investment Exchanges and Clearing Houses) Regulations (No. 9) 2009 (the “2009 Regulations”) and the Stamp Duty and Stamp Duty Reserve Tax (European Central Counterparty Limited) Regulations 2011 (the “2011 Regulations”).

The 2009 Regulations gave relief from stamp duty and stamp duty reserve tax for certain clearing transactions made on the London International Financial Futures and Options Exchange (“LIFFE”). The transfers and agreements eligible for relief were those involving LCH.Clearnet Limited (“LCH”) and its nominees (through whom transactions on the facility were cleared) or clearing participants of LCH and its nominees for clearing transactions made on LIFFE on behalf of LIFFE Administration & Management. The 2009 Regulations are no longer required because LCH no longer clears such transactions.

The 2011 Regulations gave similar relief for transactions involving European Central Counterparty Limited (“EuroCCP”). The 2011 Regulations are no longer required because EuroCCP no longer clears such transactions.

A Tax Information and Impact Note covering this instrument will be published on the HMRC website at https://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins.