The Stamp Duty and Stamp Duty Reserve Tax (Open-ended Investment Companies) (Amendment) Regulations 1999

Made26th May 1999

Laid before the House of Commons26th May 1999

Coming into force16th June 1999

The Treasury, in exercise of the powers conferred on them by section 152 of the Finance Act 19951, hereby make the following Regulations:

Citation and commencement1

These Regulations may be cited as the Stamp Duty and Stamp Duty Reserve Tax (Open-ended Investment Companies) (Amendment) Regulations 1999 and shall come into force on 16th June 1999.

Interpretation2

In these Regulations “the principal Regulations” means the Stamp Duty and Stamp Duty Reserve Tax (Open-ended Investment Companies) Regulations 19972 and “regulation” means a regulation of the principal Regulations.

Amendments to the principal Regulations

3

In regulation 9(4)–

a

the word “but” immediately following sub-paragraph (a) shall be omitted;

b

sub-paragraph (b) shall be omitted.

4

In each of sub-paragraphs (a) and (b) of regulation 10(4) the words “but before 1st July 1999” shall be omitted.

Jane KennedyBob AinsworthTwo of the Lords Commissioners of Her Majesty’s Treasury26th May 1999

(This note is not part of the Regulations)

These Regulations amend the Stamp Duty and Stamp Duty Reserve Tax (Open-ended Investment Companies) Regulations 1997 (S.I.1997/1156) so as to provide that the exemption from stamp duty and stamp duty reserve tax for mergers of authorised unit trusts with open-ended investment companies shall extend beyond 1st July 1999.