Adaptation of section 88A6

1

Section 88A (stamp duty reserve tax: exceptions from the principal charge for transactions involving intermediaries)6 is adapted as follows.

2

In subsection (1)—

a

in paragraph (a) for “an EEA exchange, or a recognised foreign exchange” substitute “a prescribed multilateral trading facility”;

b

in paragraphs (b) and (c) for “the exchange” (in each place) substitute “the facility”.

3

In subsection (2)—

a

in paragraph (a) for “an EEA exchange or a recognised foreign options exchange” substitute “a prescribed multilateral trading facility”;

b

in paragraphs (b) and (c) for “that exchange” (in each place) substitute “that facility”;

c

in paragraph (d)—

i

for “exchange, or a” substitute “exchange, a”; and

ii

after “foreign exchange” insert “, or a prescribed multilateral trading facility”.

4

In subsection (3)—

a

in paragraph (a) for “an EEA exchange, or a recognised foreign options exchange” substitute “a prescribed multilateral trading facility”

b

in paragraph (b) for “that exchange” (in each place) substitute “that facility”.

5

In subsection (6)—

a

in the words preceding paragraph (a) for “an exchange” substitute “a facility”; and

b

in paragraphs (a) and (b) (in each place) for “the exchange” substitute “the facility”.

6

At the end of the section add—

7

In this section “prescribed multilateral trading facility” has the meaning given by regulation 2 of the Stamp Duty and Stamp Duty Reserve Tax (Extension of Exceptions relating to Recognised Exchanges) Regulations 2005.