§ .—(1) The Treasury may make regulations providing as mentioned in this section with regard to any circumstances which—
- (a) would (apart from the regulations) give rise to a stamp duty reserve tax,
- (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
- (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.