http://www.legislation.gov.uk/ukpga/1987/16/section/50Finance Act 1987An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with Finance.1987-05-15texttext/xmlenStatute Law Database2024-06-03Expert Participation2024-02-22 Part III501Where an interest in, a right to an allotment of or to subscribe for, or an option to acquire or to dispose of, exempt securities is transferred to or vested in any person by any instrument, no stamp duty shall be chargeable on the instrument by virtue of Part I ..., of Schedule 13 to the Finance Act 1999 (conveyance or transfer on sale or otherwise)2No stamp duty under Schedule 15 to the Finance Act 1999 (bearer instruments) shall be chargeable —a. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .bon the transfer of the interest, right or option constituted by, or transferable by means of, an instrument which relates to an interest, right or option within subsection (1).3For the purposes of this section, “exempt securities” means —asecurities the transfer of which is exempt from all stamp duties,b. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .csecurities the transfer of which is exempt by virtue of section 30 of the Finance Act 1967 or section 7 of the Finance Act (Northern Ireland) 1967 or section 79(2) of the Finance Act 1986 from stamp duty under Schedule 15 to the Finance Act 1999 (stamp duty: bearer instruments);and “securities” means stock or marketable securities and includes loan capital as defined in section 78(7) of the Finance Act 1986 .4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .S. 50(1) words inserted by 1987 c. 51 s. 99(1)Words in s. 50(1) substituted (with effect in accordance with s. 112(6) of the amending Act) by Finance Act 1999 (c. 16) ss. 112(4), 122, {Sch. 14 para. 21}Words in s. 50(2) substituted (with application in accordance with s. 113(4) of the amending Act) by Finance Act 1999 (c. 16) s. 113(3), {Sch. 16 para. 10}S. 50 (3) words inserted by 1987 c. 51 s. 99(2)1986 c. 41.S. 50(4)(5) repealed (with effect as mentioned in Sch. 20 Pt. V(2) notes 1, 2 of the amending Act) by Finance Act 1999 (c. 16) s. 138, {Sch. 20 Pt. V(5)}Words in s. 50(1) omitted (with effect in accordance with s. 99(2) of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 32 para. 17S. 50(2)(a) omitted (with effect in accordance with Sch. 11 para. 25 of the amending Act) by virtue of Finance Act 2024 (c. 3), Sch. 11 para. 23(2)(a) (with Sch. 11 para. 29)Words in s. 50(2)(b) substituted (with effect in accordance with Sch. 11 para. 25 of the amending Act) by Finance Act 2024 (c. 3), Sch. 11 para. 23(2)(b) (with Sch. 11 para. 29)S. 50(3)(b) omitted (with effect in accordance with Sch. 11 para. 25 of the amending Act) by virtue of Finance Act 2024 (c. 3), Sch. 11 para. 23(3)(a) (with Sch. 11 para. 29)Words in s. 50(3)(c) substituted (with effect in accordance with Sch. 11 para. 25 of the amending Act) by virtue of Finance Act 2024 (c. 3), Sch. 11 para. 23(3)(b) (with Sch. 11 para. 29)