SCHEDULES

SCHEDULE 32Stamp duty: abolition of fixed duty on certain instruments

Part 2Consequential provisions and saving

FA 1986

14

1

Section 67 (stamp duty on certain transfers to depositary receipt systems) is amended as follows.

2

In subsection (1), after “instrument” insert “ (other than a bearer instrument) ”.

3

In subsection (3), for the words from the beginning to “then,” substitute

In any other case—

a

stamp duty is chargeable on the instrument under this subsection, and

b

 

4

After subsection (9) insert—

9A

In this section “bearer instrument” has the meaning given in paragraph 3 of Schedule 15 to the Finance Act 1999.