HC Deb 17 July 1986 vol 101 c1228

Amendments made: No. 196, in page 84, line 6, leave out `registered' and insert 'incorporated'.

No. 197, in page 84, line 15, at end insert 'the transfer of which is not exempt from all stamp duties'. No. 198, in page 84, line 17, at end insert `the transfer of which is not exempt from all stamp duties'. No. 222, in page 84, leave out lines 22 to 26 and insert—

  1. '(a) that a person holds stocks or shares or evidence of the right to receive them, and
  2. (b) that another person is entitled to rights, whether expressed as units or otherwise in or in relation to stocks or shares of the same kind, including the right to receive such stocks or shares (or evidence of the right to receive them) from the person mentioned in paragraph (a) above,
except that a depository receipt for stocks or shares does not include an instrument acknowledging rights in or in relation to stocks or shares if they are issued or sold under terms providing for payment in instalments and for the issue of the instrument as evidence that an instalment has been paid. (7A) The Treasury may by regulations provide that for subsection (7) above (as it has effect for the time being) there shall be substituted a subsection containing a definition of a depositary receipt); and the power to make regulations under this subsection shall he exerciseable by statutory instrument subject to annulment in pursuance of a resolution of the House of Commons.'.

No. 223, in page 84, line 28, at end insert— '(9) In interpreting "chargeable securities" in sections 90, 91 and 92 above—

  1. (a) the words in subsection (4) above from "unless" to the end shall be ignored, and
  2. (b) the effect of paragraph 8 of Schedule 14 to the Companies Act 1985 (share registered overseas) and of section 118 of the Companies Act (Northern Ireland) 1960 and paragraph 7 of Schedule 14 of the Companies (Northern Ireland) Order 1986 (equivalent provision for Northern Ireland) shall be ignored for the purposes of subsection (5) above.'. —[Mr. Ian Stewart.]

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