Demutualisation of building societies

No stamp duty is chargeable on the transfer under Building Societies Act 1986, s. 97(6) or (7) of the business of a building society to a successor company (Building Societies Act 1986, s. 109(2)). However, the relief does not apply in relation to ‘core-capital deferred shares’, which are shares forming part of the core tier-one capital of the society (SI 2013/460).

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