Related Commentary  Related CasesRelated HMRC Manuals

96(1)  Subject to subsection (5) below and sections 97 and 97A below, there shall be a charge to stamp duty reserve tax under this section where–

(a)a person (A) whose business is or includes the provision of clearance services for the purchase and sale of chargeable securities has entered into an arrangement to provide such clearance services for another person, and

(b)in pursuance of the arrangement, chargeable securities are transferred or issued to A or to a person whose business is or includes holding chargeable securities as nominee for A.

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