Amendments made: No. 189, in page 82, line 4, after 'below', insert
(Clearance services: stamp duty reserve tax: exceptions) below'.
§ No. 217, in page 82, line 14, leave out 'and' and insert `to'.
- (a) the transfer is effected by an instrument on which stamp duty under the heading "Conveyance or Transfer of any kind not hereinbefore described" in Schedule I to the Stamp Act 1891 is chargeable,
- (b) at the time of the transfer the transferor is a qualified dealer in securities of the kind concerned or a nominee of such a qualified dealer,
- (c) the transfer is made for the purposes of the dealer's business,
- (d) at the time of the transfer the dealer is not a market maker in securities of the kind concerned, and
- (e) the instrument contains a statement that paragraphs (b) to (d) above are fulfilled.'.
No. 218, in page 82, line 36, at end insert—
'(3A) In a case where—
§ No. 219, in page 82, line 42, leave out 'and (3)' and insert `to (3A)'.
§ No. 220, in page 83, line 3, after 'under' insert 'the preceding provisions of'.
No. 191, in page 83, line 4, after 'shall', insert
'(subject to subsection (5A) below)'.
No. 221, in page 83, line 4, at end insert—
`(5A) Where tax is charged under the preceding provisions of this section in a case where securities are transferred to a person other than A, and at the time of transfer A is not resident in the United Kingdom and had no branch or agency in the United Kingdom, the person liable for the tax shall be the person to whom the securities are transferred.
(5B) Where chargeable securities are issued or transferred on sale under terms providing for payment in instalments and for an issue of other chargeable securities, and (apart from this subsection) tax would be charged under this section in respect of that issue, tax shall not be so charged but—
No. 193, in page 83, line 13, leave out from 'above' to second 'at' in line 14 and insert
'"qualified dealer" and "market maker" have at any particular time the same meanings as they have'.
No. 194, in page 83, line 20, leave out 'This' and insert
'Subject to subsection (11) below, this'.
No. 195, in page 83, line 22, at end insert—
`(11) This section does not apply, in the case of securities which are transferred, if the Board are satisfied—