84(1)  [Amends FA 1976, s. 127(1).]

84(2)  Stamp duty shall not be chargeable on an instrument effecting a transfer of stock if–

(a)the transferee is a recognised investment exchange or a nominee of a recognised investment exchange, and

(b)an agreement which relates to the stamp duty which would (apart from this subsection) be chargeable on the instrument, and was made between the Commissioners and the investment exchange under section 33 of the Finance Act 1970, is in force at the time of the transfer.

84(3)  Stamp duty shall not be chargeable on an instrument effecting a transfer of stock if–

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