Part I Charging Provisions

SCHEDULE 15 Stamp Duty: Bearer Instruments

Section 113(1)

Part I Charging Provisions

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1

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Charge on transfer of stock by means of instrument

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Stamp duty is chargeable on the transfer in the United Kingdom of the stock constituted by or transferable by means of a bearer instrument if .Ìý.Ìý.—

(a)ÌýÌýÌýÌý duty would be chargeable under Part I of Schedule 13 (conveyance or transfer on sale) if the transfer were effected by an instrument other than a bearer instrument, or

(b)ÌýÌýÌýÌý the stock constituted by or transferable by means of a bearer instrument consists of units under a unit trust scheme.

Meaning of “bearer instrumentâ€

3

In this Schedule “bearer instrument†means—

(a)ÌýÌýÌýÌý a marketable security transferable by delivery;

(b)ÌýÌýÌýÌý a share warrant or stock certificate to bearer or instrument to bearer (by whatever name called) having the like effect as such a warrant

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