Part VI

Stamp duty and stamp duty reserve tax

Stamp duty

Bearer instruments.
113
1
The provisions of Schedule 15 to this Act have effect in place of the heading “Bearer Instruments” in Schedule 1 to the Stamp Act 1891, and certain related enactments, and incorporate amendments in relation to bearer instruments corresponding to those made by—
- section 109 (interest and penalties on late stamping),
- section 112 (general amendment of charging provisions), and
- Part I of Schedule 17 to this Act (amendments of penalties other than on late stamping).
2
The percentage rates specified in Schedule 15 correspond to the rates of duty generally in force at the passing of this Act.
In the case of an instrument in relation to which there was then in force transitional provision in connection with an earlier change in the rate of duty having the effect that a different rate applied, the new provisions have effect as if a reference to a percentage corresponding to that different rate were substituted.
3
The consequential amendments specified in Schedule 16 to this Act have effect.
4
This section applies in relation to bearer instruments issued on or after 1st October 1999.