This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
(This note is not part of the Regulations)
These Regulations exempt from stamp duty and stamp duty reserve tax (“SDRT”) certain transfers of, or agreements to transfer, traded securities made in the course of trading in those securities on the Turquoise MTF, a multilateral trading facility operated by Turquoise Services Limited. The transfers and agreements exempted are those involving European Multilateral Clearing Facility N.V. (“EMCF”) and/or European Central Counterparty Limited (“EuroCCP”) and/or LCH.Clearnet Limited (“LCH.Clearnet”) and/or SIX X-CLEAR AG (“X-CLEAR”), and nominees of these clearing houses, (through whom transactions on the Turquoise MTF are cleared), or clearing participants in EMCF and/or EuroCCP and/or LCH.Clearnet and/or X-CLEAR and their nominees.
Regulation 1 provides for citation, commencement and effect, and regulation 2 contains definitions.
Regulation 3 prescribes the Turquoise MTF as a recognised investment exchange, and EMCF, EuroCCP, LCH.Clearnet and X-CLEAR as recognised clearing houses for the purpose of the exemption.
Regulation 4 prescribes the circumstances in which stamp duty and SDRT will not be charged.
Regulation 5 revokes the Stamp Duty and Stamp Duty Reserve Tax (Investment Exchanges and Clearing Houses) Regulations (No. 8) 2009 which are replaced by these Regulations.
A full Impact Assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.
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