(1)The Treasury may by regulations confer an exemption or other relief from stamp duty or stamp duty reserve tax for transactions relating to collective investment schemes.
(2)The regulations may, in particular—
(a)specify descriptions of collective investment scheme in relation to which the exemption or relief is available, and
(b)specify the cases in which the exemption or relief is available.
(3)Regulations under this section may make different provision for different cases or different purposes.
(4)Regulations under this section—
(a)may modify any enactment or instrument (whenever passed or made), and
(b)may include incidental, consequential, supplementary or transitional provision.
(5)Regulations under this section are to be made by statutory instrument.
(6)A statutory instrument containing regulations under this section is subject to annulment in pursuance of a resolution of the House of Commons.
(7)In this section—
“collective investment scheme” has the meaning given by section 235 of the Financial Services and Markets Act 2000, and
“modify” includes amend, repeal or revoke.