Schedules
Schedule 11Capital-raising arrangements etc
Part 1Depositary receipts and clearance services
7Stamp duty reserve tax
1
In the italic heading before section 93 (SDRT: depositary receipts), at the end insert “: depositary receipts”
.
2
In section 93—
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 (7) below and section 95 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 (7) of this section (exception so far as stamp duty is chargeable);
b
section 95 (general exceptions);
c
section 95A (replacement securities);
d
section 97AB (exempt capital-raising transfers);
e
section 97AC (exempt listing transfers);
f
section 97AD (exception for transfers of shares held by issuing company);
g
section 97B (transfers between depositary receipt system and clearance system).
d
in subsection (4) omit paragraph (a);
e
omit subsection (10).