75 Acquisitions: reliefs
Finance Act 1986 (1986 c 41) | Legislation

75  Acquisitions: reliefs

(1)     This section applies where a company (the acquiring company) acquires the whole or part of an undertaking of another company (the target company) in pursuance of a scheme for the reconstruction of the target company.

(2)     If the first and second conditions (as defined below) are fulfilled, stamp duty under [Part I of Schedule 13 to the Finance Act 1999 (conveyance or transfer on sale)] shall not be chargeable on an instrument executed for the purposes of or in connection with the transfer of the undertaking or part.

(3)     An instrument on which stamp duty is not chargeable by virtue only of subsection

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