http://www.legislation.gov.uk/ukpga/Vict/54-55/39/section/55Stamp Act 1891An Act to consolidate the Enactments granting and relating to the Stamp Duties upon Instruments and certain other enactments relating to Stamp Duties.texttext/xmlenStatute Law Database2020-10-05Expert Participation2020-07-22 Part II551Where the consideration, or any part of the consideration, for a conveyance on sale consists of any stock or marketable security, the conveyance is to be charged with ad valorem duty in respect of the value of the stock or security.1AFor the purposes of subsection (1), it is immaterial—awhether, at the time of the execution of the conveyance on sale, the stock or marketable security is or has been issued or is to be issued; andbin a case where the stock or marketable security is to be issued, when it is to be, or is, issued and whether the issue is certain or contingent.2Where the consideration, or any part of the consideration, for a conveyance on sale consists of any security not being a marketable security, the conveyance is to be charged with ad valorem duty in respect of the amount due on the day of the date thereof for principal and interest upon the security.S. 55(1A) inserted (28.7.2000 with effect as mentioned in s. 126(3) of the amending Act) by 2000 c. 17, s. 126(2)(3)