Schedules
Schedule 11Capital-raising arrangements etc
Part 1Depositary receipts and clearance services
11Stamp duty reserve tax
1
Before section 96 (SDRT: clearance services) insert—
Other charges: clearance services
2
In section 96—
a
in the heading, at the end insert “: 1.5% charge”
;
b
in subsection (1)—
i
in the words before paragraph (a) omit “Subject to subsection (5) below and sections 97 and 97A below,”;
ii
in paragraph (b) omit “or issued”;
c
after that subsection insert—
1A
The following provisions contain exceptions to the charge to stamp duty reserve tax under this section—
a
subsection (5) of this section (exception so far as stamp duty is chargeable);
b
section 97 (general exceptions);
c
section 97ZA (exception for replacement securities);
d
section 97A (election for alternative system of charge);
e
section 97AB (exempt capital-raising transfers);
f
section 97AC (exempt listing transfers);
g
section 97AD (exception for transfers of shares held by issuing company);
h
section 97B (transfers between depositary receipt system and clearance system).
d
in subsection (2) omit paragraph (a);
e
omit subsection (8).