§ (" .—(1) Neither stamp duty nor stamp duty reserve tax shall be chargeable on, or in respect of,—
- (a) a transfer instrument;
- (b) an instrument or agreement which is certified to the Commissioners of Inland Revenue by a Minister of the Crown as made in pursuance of a transfer instrument; or
- (c) an instrument or agreement which is certified to the Commissioners of Inland Revenue by a Minister of the Crown as giving effect to a preparatory reorganisation, to the extent that the instrument or agreement is so certified.
§ (2) No instrument or agreement which is certified as mentioned in paragraph (b) or (c) of subsection (1) above shall be taken to be duly stamped unless—
- (a) it is stamped with the duty to which it would, but for that subsection, be liable; or
- (b) it has, in accordance with section 12 of the Stamp Act 1891, been stamped with a particular stamp denoting that it is not chargeable with any duty or that it is duly stamped.
- (a) the delivery to the Inland Revenue of a copy of this Act, or
- (b) the payment of stamp duty under that section on any copy of this Act,
§ (4) In subsection (1) above, "transfer instrument" means—
- (a) an order under section 351 or 354 above; or
- (b) a scheme under section 352 above.
§ (5) In subsection (1) above "preparatory reorganisation" means the transfer of property, rights and liabilities—
- (a) from London Regional Transport to any of its subsidiaries,
- (b) from a subsidiary of London Regional Transport to London Regional Transport,
- (c) from a subsidiary of London Regional Transport to another such subsidiary, or
- (d) from a Minister of the Crown to London Regional Transport or any of its subsidiaries,
§ On Question, amendment agreed to.
Lord Whitty moved Amendment No. 570WA:
After Clause 356, insert the following new clause—