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The Stamp Duty Reserve Tax (Tradepoint) Regulations 1995
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- 1995 No. 2051
- Explanatory Note
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Explanatory Note
(This note is not part of the Regulations)
These Regulations exempt from stamp duty reserve tax (“SDRT”) certain agreements to transfer equity securities made in the course of trading in those securities on the newly established Exchange known as Tradepoint. Theagreements exempted are those involving clearing participants in thatExchange (and nominees of such clearing participants), and The London Clearing House Limited through whom transactions on Tradepoint are cleared (and a nominee of that clearing house).
Regulation 1 provides for citation and commencement, and regulation 2 contains definitions.
Regulation 3 prescribes certain persons for the purposes of the exemption from SDRT of the agreements concerned, and regulation 4 prescribes those agreements and the circumstances in which SDRT will not be charged.
Regulation 5 makes consequential provision to the effect that equity securities which are the subject of a prescribed agreement shall be dealt with by a clearing participant in a separate designated account.
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