Part IV Stamp duty and Stamp duty reserve tax
Stamp duty
127 Company acquisition reliefs: redeemable shares.
(1)
Amend section 75 of the M1Finance Act 1986 (acquisitions: reliefs) in accordance with subsections (2) and (3).
(2)
In subsection (4), in paragraph (a) (which requires that the consideration for the acquisition consists of or includes the issue of shares) after “the issue of" insert “
non-redeemable
”
.
(3)
In subsection (4), after paragraph (b) add—
“In paragraph (a) above, “non-redeemable shares” means shares which are not redeemable shares.”.
F1(4)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5)
This section has effect in relation to instruments executed after the day on which this Act is passed.