Explanatory Note
(This note is not part of the Regulations)
These Regulations extend the stamp duty and stamp duty reserve tax exemptions for sales of stock to intermediaries and for repurchase and stock lending (sections 80A, 80C, 88A and 89AA of the Finance Act 1986 (c. 41)) to the multilateral trading facilities known as the Alternative Investment Market, OFEX and POSIT, operated by Investment Technology Ltd.
Regulation 1 provides for citation and commencement
Regulation 2 provides for the extended application of the sections of the Finance Act 1986 mentioned above.
Regulation 3 introduces, and regulations 4 to 7 make, the adaptations to those sections.
These Regulations do not impose any new costs on business.