49 Stamp duty: exemption in respect of financial institutions in resolution
Finance Act 2019 (2019 c 1) | Legislation

49  Stamp duty: exemption in respect of financial institutions in resolution

(1)     In FA 1986, after section 85 insert—

“Resolution of financial institutions

85A Resolution of financial institutions

(1)     Stamp duty is not chargeable on the transfer of stock or marketable securities by—

(a)     an instrument listed in subsection (2), or

(b)     an instrument made under an instrument listed in subsection (2).

(2)     The instruments are—

(a)     a mandatory reduction instrument made in accordance with section 6B of the Banking Act 2009 (mandatory write-down, conversion etc of capital instruments),

(b)     a share transfer instrument or property transfer instrument made in accordance with section 12(2) of that Act (transfer to a bridge bank),

(c)     a property transfer instrument made

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