- Statutory Instrument 2000 No. 1871
The Stamp Duty Reserve Tax (UK Depositary Interests in Foreign Securities) (Amendment) Regulations 2000
© Crown Copyright 2000
Statutory Instruments printed from this website are printed under the superintendence and authority of the Controller of HMSO being the Queen's Printer of Acts of Parliament.
The legislation contained on this web site is subject to Crown Copyright protection. It may be reproduced free of charge provided that it is reproduced accurately and that the source and copyright status of the material is made evident to users.
It should be noted that the right to reproduce the text of Statutory Instruments does not extend to the Queen's Printer imprints which should be removed from any copies of the Statutory Instrument which are issued or made available to the public. This includes reproduction of the Statutory Instrument on the Internet and on intranet sites. The Royal Arms may be reproduced only where they are an integral part of the original document.
The text of this Internet version of the Statutory Instrument which is published by the Queen's Printer of Acts of Parliament has been prepared to reflect the text as it was Made. A print version is also available and is published by The Stationery Office Limited as the The Stamp Duty Reserve Tax (UK Depositary Interests in Foreign Securities) (Amendment) Regulations 2000 , ISBN 0 11 099692 5. The print version may be purchased by clicking here. Braille copies of this Statutory Instrument can also be purchased at the same price as the print edition by contacting TSO Customer Services on 0870 600 5522 or e-mail:customer.services@tso.co.uk.
Further information about the publication of legislation on this website can be found by referring to the Frequently Asked Questions.
To ensure fast access over slow connections, large documents have been segmented into "chunks". Where you see a "continue" button at the bottom of the page of text, this indicates that there is another chunk of text available.
| Made | 14th July 2000 | ||
| Laid before the House of Commons | 17th July 2000 | ||
| Coming into force | 7th August 2000 |
The Treasury, in exercise of the powers conferred upon them by section 119 of the Finance Act 1999[1], hereby make the following Regulations:
Citation and commencement
1. These Regulations may be cited as the Stamp Duty Reserve Tax (UK Depositary Interests in Foreign Securities) (Amendment) Regulations 2000 and shall come into force on 7th August 2000.
Interpretation
2. In these Regulations "the principal Regulations" means the Stamp Duty Reserve Tax (UK Depositary Interests in Foreign Securities) Regulations 1999[2].
Amendments to the principal Regulations
3. In regulation 2 of the principal Regulations in paragraph (d) of the definition of "foreign securities" omit "overseas".
4. In regulation 2 of the principal Regulations for the definition of "recognised stock exchange overseas" substitute -
-
"
"recognised stock exchange" has the meaning given by section 841 of the Income and Corporation Taxes Act 1988[3];".
Bob Ainsworth
Greg Pope
Two of the Lords Commissioners of Her Majesty's Treasury
14th July 2000
(This note is not part of the Regulations)
These Regulations amend the Stamp Duty Reserve Tax (UK Depositary Interests in Foreign Securities) Regulations 1999 (S.I. 1999/2383) ("the principal Regulations") which provide for UK depositary interests in foreign securities to be excluded from the definition of "chargeable securities" in Part IV of the Finance Act 1986 for the purposes of stamp duty reserve tax.
One of the conditions contained in the definition of "foreign securities" in regulation 2 of the principal Regulations is that the securities are of the same class in the body corporate concerned as securities listed on a recognised stock exchange outside the United Kingdom. The amendments made by these Regulations relax that condition so as to include securities listed on any recognised stock exchange.
Notes:
[1] 1999 c. 16.back
ISBN 0 11 099692 5