139 SDRT: transfers to depositaries or providers of clearance services
Finance Act 2016 (2016 c 24) | Legislation

139  SDRT: transfers to depositaries or providers of clearance services

(1)     Part 4 of FA 1986 (stamp duty reserve tax) is amended as follows.

(2)     In section 93 (depositary receipts)—

(a)     in subsection (4)(b), for the words from “worth,” to the end substitute “worth—

(i)     the amount or value of the consideration, or

(ii)     where subsection (4A) applies, the amount or value of the consideration or, if higher, the value of the securities;”, and

(b)     after subsection (4) insert—

“(4A)     This subsection applies where the transfer of

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