Where a principal charge to SDRT arises under FA 1986, s. 92 (see ¶500-110) on an agreement to transfer chargeable securities between a transferor and another person (B), and there is a subsequent payment of or exemption from stamp duty on an instrument effecting the transfer, the SDRT charge may be cancelled, and if paid, repaid.

The precise conditions for cancellation are that, within a period of six years following the ‘relevant day’:

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