PART 8

Other taxes

Stamp duty land tax, stamp duty reserve tax and stamp duty

Collective investment schemes: stamp duty and stamp duty reserve tax
217
1
The Treasury may by regulations confer an exemption or other relief from stamp duty or stamp duty reserve tax for transactions relating to collective investment schemes.
2
The regulations may, in particular—
a
specify descriptions of collective investment scheme in relation to which the exemption or relief is available, and
b
specify the cases in which the exemption or relief is available.
3
Regulations under this section may make different provision for different cases or different purposes.
4
Regulations under this section—
a
may modify any enactment or instrument (whenever passed or made), and
b
may include incidental, consequential, supplementary or transitional provision.
5
Regulations under this section are to be made by statutory instrument.
6
A statutory instrument containing regulations under this section is subject to annulment in pursuance of a resolution of the House of Commons.
7
In this section—
- “collective investment scheme” has the meaning given by section 235 of the Financial Services and Markets Act 2000, and
- “modify” includes amend, repeal or revoke.