Finance Act 1946 (c. 64)

Part VII U.K. Stamp Duty

Modifications etc. (not altering text)

C1 Pt. VII restricted by Finance Act 1963 (c. 25), s. 65(2)

C2 Pt. VII (ss. 52–57) restricted by Finance Act 1981 (c. 35, SIF 114), s. 110

C3 Pt. VII (ss. 52–57) excluded by S.I. 1988/268, reg. 3

[F1 54 Units under unit trust schemes to be treated as stock. U.K.

(1) Any reference in the enactments relating to stamp duty to stock shall be deemed to include a reference to a unit under a unit trust scheme, and any reference in any such enactment to a stock certificate to bearer shall be deemed to include a reference to a certificate to bearer in relation to a unit under a unit trust scheme and, subject to the provisions of this Part of this Act, the said enactments shall have effect accordingly.

(2) Any reference in the enactments relating to stamp duty to the nominal amount or nominal value of stock shall, in relation to units under a unit trust scheme, be construed as a reference to the value of the units in question computed as if each unit were worth, and worth only, the price at which similar units are first or were first obtainable under the scheme from the trustees or managers thereof.

(3)(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F2

(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F3

(6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F4 ]

Textual Amendments

F1 S. 54 repealed (27.7.1999 with effect as mentioned in Sch. 20 Pt. V(5) of the amending Act) by 1999 c. 16, s. 139, Sch. 20 Pt. V(5), Notes 1, 2

F2 S. 54(3)(4) repealed by Finance Act 1990 (c. 29, SIF 114), s. 132, Sch. 19 Pt. VI

F3 S. 54(5) repealed by Finance Act 1976 (c. 40), Sch. 15 Pt. VI

F4 S. 54(6) repealed by Finance Act 1987 (c. 16, SIF 114), s. 72(7), Sch. 16 Pt. VIII