Details of the Section
2.Subsection (1) introduces amendments to Part 3 (stamp duty) and Part 4 (stamp duty reserve tax) of the Finance Act (FA) 1986.
3.Subsection (2) provides that the amendments made by the Schedule have effect where one of the parties to a stock lending or repurchase arrangement (repo) becomes insolvent on or after 1 September 2008.
2.Subsection (3) provides that this section and Schedule will cease to have effect if the provisions of sections 107 to 110 of FA 1990 repealing stamp duty and SDRT are brought into effect.