Investment Exchanges and Clearing Houses: SDRT

New Clause 17 – in the House of Commons at 3:46 pm on 15th July 1991.

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.—(1) The Treasury may make regulations providing as mentioned in this section with regard to any circumstances which—

  1. (a) would (apart from the regulations) give rise to a stamp duty reserve tax,
  2. (b) involve a prescribed recognised investment exchange or a prescribed recognised clearing house, or a member or nominee (or member or nominee of a prescribed description) of such an exchange, or a nominee (or nominee of a prescribed description) of such a clearing house, or a nominee (or nominee of a prescribed description) of a member of such an exchange, and
  3. (c) are such as are prescribed.

(2) The regulations may provide that the charge to stamp duty reserve tax shall be treated as not arising or (depending on the terms of the regulations) as reduced.

(3) Subsections (3) and (4) of section (Investment exchanges and clearing houses: stamp duty) above shall apply for the purposes of this section as they apply for the purposes of that.'.—[Mr. Maude.]

Brought up, read the First and Second time, and added to the Bill.