Statutory Instruments
2008 No. 3236
Stamp Duty Reserve Tax
The Stamp Duty Reserve Tax (Amendment of section 89AA of the Finance Act 1986) Regulations 2008
Made
17th December 2008
Laid before the House of Commons
17th December 2008
Coming into force
18th December 2008
The Treasury make the following Regulations in exercise of the powers conferred by section 89AA(8) of the Finance Act 1986( 1 ).
Citation, commencement and effect
1. —(1) These Regulations may be cited as the Stamp Duty Reserve Tax (Amendment of section 89AA of the Finance Act 1986) Regulations 2008 and shall come into force on 18th December 2008.
(2) These Regulations have effect in relation to any agreement to transfer securities—
(a) in a case where the agreement is conditional, if the condition is satisfied on or after 18th December 2008, and
(b) in any other case, if the agreement is made on or after that date.
Amendment of section 89AA of the Finance Act 1986
2. In section 89AA(2A) of the Finance Act 1986 (exception from the principal charge for repurchases and stock lending)( 2 )—
(a) omit “and” at the end of paragraph (a), and
(b) at the end of paragraph (b) insert
“ ; and
(c) that chargeable securities are transferred to P or his nominee and Q or his nominee in pursuance of the arrangement. ” .
Dave Watts
Steve McCabe
Two of the Lords Commissioners of Her Majesty’s Treasury
17th December 2008
1986 c. 41 . Section 89AA was inserted by section 103(1) of the Finance Act 1997 (c. 16) and amended by paragraph 6 of Schedule 21 to the Finance Act 2007 (c. 11) .
Subsection (2A) of section 89AA was inserted by paragraph 6(3) of Schedule 21 to the Finance Act 2007.