SCHEDULES

SCHEDULE 21Exemptions from stamp duty and SDRT: intermediaries, repurchases etc

Exemptions from stamp duty and SDRT in cases involving recognised investment exchanges

7

1

In section 116 of FA 1991 (stamp duty: investment exchanges and clearing houses), subsection (4) is amended as follows.

2

After “In this section—” insert—

aa

“the Directive” means Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments, as amended from time to time,

3

In paragraph (b) (definition of “recognised investment exchange”), after “2000” insert “ , a regulated market within the meaning of the Directive or a multilateral trading facility within the meaning of the Directive ”.