The Stamp Duty Reserve Tax (Amendment of section 89AA of the Finance Act 1986) Regulations 2008

• Citation: S.I. 2008/3236
• Sections: 2

Section 1 Citation, commencement and effect

(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.

Section 2 Amendment of section 89AA of the Finance Act 1986

In section 89AA(2A) of the Finance Act 1986 (exception from the principal charge for repurchases and stock lending) —

(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.