88 [Special cases]
Finance Act 1986 (1986 c 41) | Legislation

88  [Special cases]

(1) An instrument on which stamp duty is not chargeable by virtue of—

[(aa) paragraph 24(d) of Schedule 13 to the Finance Act 1999 (renounceable letters of allotment etc),]

(a) section 127(1) of the Finance Act 1976 (transfer to stock exchange nominee), or

(b) section 84(2) or (3) above, [or

(c) Part I of Schedule 19 to the Finance Act 1999 (transfers etc of units in unit trusts),]

shall be disregarded in construing section [section 92(1A) and (1B) below].

[(1A) An instrument on which stamp duty is not chargeable by virtue of section 186 of the Finance Act 1996 (transfers of securities to members of electronic transfer systems etc) shall be disregarded in construing section [section 92(1A) and (1B) below] unless—

(a) the transfer is made by a stock exchange nominee; and

(b) the maximum stamp duty chargeable on the instrument, apart from section 186 of the Finance Act 1996, would be [£5];

and in this subsection “stock exchange nominee” means a person designated for the purposes of section 127 of the

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