(1)Stamp duty shall not be chargeable under the heading “Bearer Instrument” in Schedule 1 to the [1891 c. 39.] Stamp Act 1891.
(2)Subsection (1) above applies to an instrument which falls within section 60(1) of the [1963 c. 25.] Finance Act 1963 if it is issued on or after the abolition day.
(3)Subsection (1) above applies to an instrument which falls within section 60(2) of that Act if the stock constituted by or transferable by means of it is transferred on or after the abolition day.
(4)In subsection (2) above the reference to section 60(1) of the [1963 c. 22 (N.I.)] Finance Act 1963 includes a reference to section 9(1)(a) of the Finance Act (Northern Ireland) 1963 and in subsection (3) above the reference to section 60(2) of the former Act includes a reference to section 9(1)(b) of the latter.