Related Commentary  

50(1)  Where an interest in, a right to an allotment of or to subscribe for, or an option to acquire or to dispose of, exempt securities is transferred to or vested in any person by any instrument, no stamp duty shall be chargeable on the instrument by virtue of Part I of Schedule 13 to the Finance Act 1999 (transfer on sale or otherwise).

50(2)  No stamp duty under Schedule 15 to the Finance Act 1999 (bearer instruments) shall be chargeable–

(a)on the issue of an instrument which relates to such an interest, right or option as is mentioned in subsection (1) above, or

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