90 Section 87: other exceptions
Finance Act 1986 (1986 c 41) | Legislation

90  Section 87: other exceptions

(1)ÌýÌýÌýÌý Section 87 above shall not apply as regards an agreement to transfer a unit under a unit trust scheme [to or from the managers] under the scheme.

[(1A)ÌýÌýÌýÌý Section 87 above shall not apply as regards an agreement to transfer a unit under a unit trust scheme if an instrument executed at the same time as the agreement and giving effect to the agreement would be exempt from stamp duty (if stamp duty were otherwise chargeable) by virtue of—

(a)ÌýÌýÌýÌý section 42 of the Finance Act 1930 or section 11 of the Finance Act (Northern Ireland) 1954 (transfers between associated companies), or

(b)ÌýÌýÌýÌý regulations under section 87(2) of the Finance Act 1985 (power to exempt instruments from stamp duty of fixed amount) [, or

(c)ÌýÌýÌýÌý section 96 of the Finance Act 1997 (demutualisation of insurance companies)].]

[(1B)ÌýÌýÌýÌý Section 87 above shall not apply as regards an agreement to transfer trust property to the unit holder on the surrender to the managers of a unit under a unit trust scheme [if the unit holder

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