Explanatory Notes

Finance Act 2009

2009 CHAPTER 10

21 July 2009

Introduction

Section 83 Schedule 37: Stamp Taxes in the Event of Insolvency

Summary

1.Section 83 and Schedule 37 provide relief from stamp duty and stamp duty reserve tax (SDRT) where, under a stock lending or sale and repurchase arrangement, securities are not returned to the originator because of the insolvency, on or after 1 September 2008, of one of the parties.