The Finance Act 198617 is amended as follows.

In section 80D(9)(e) (repurchases and stock lending: replacement stock on insolvency)18 before “presentation of a bankruptcy petition” insert “making of a bankruptcy application or”.

In section 89AB(9)(e) (stamp duty reserve tax: exception for repurchases and stock lending in case of insolvency)19 before “presentation of a bankruptcy petition” insert “making of a bankruptcy application or”.