Coal Act 1938

49 Exemption from stamp duty in respect of amalgamation or absorption schemes and instruments executed thereunder

(1) No stamp duty shall be payable—

(a) in respect of any amalgamation or absorption scheme confirmed under Part I of the Mining Industry Act, 1926; or

(b) in respect of any amalgamation scheme framed in accordance with the provisions of Part I of that Act by the owners of two or more coalmining undertakings, if the Board of Trade are satisfied, on the recommendation of the Commission, that the scheme is in the national interest, and, on the recommendation of the owners by whom the scheme was framed, that it is unnecessary for the purpose of giving effect to the scheme that it should be referred to and confirmed by the Railway and Canal Commission under that Act; or

(c) in respect of any share or loan capital issued, or any conveyance agreement assignment or transfer made, or document executed, or thing done, in pursuance of any scheme exempt from stamp duty under the foregoing provisions of this section, or in pursuance of any arrangements for combining the financial interests in coal-mining undertakings by the formation of holding companies or otherwise, being arrangements approved on the recommendation of the Commission by the Board of Trade as being in the national interest, if in either case the Board certify that the issue, making, execution or the doing thereof is reasonably required for the purposes of such a scheme, or of such arrangements, and of conducing to the more economical and efficient working or disposing of coal.

(2) Subsection (2) of section five of the Mining Industry Act, 1926, and subsection (7) of section thirteen of the Coal Mines Act, 1930, are hereby repealed.