STSM042345 | Exemptions and Reliefs: Reliefs: Clearing relief- prescribed recognised investment exchanges and prescribed recognised clearing houses

The following regulations have been made in exercise of the powers under sections 116 and 117 FA1991:

The Stamp Duty and Stamp Duty Reserve Tax (Investment Exchanges and Clearing Houses) (European Central Counterparty Limited and the Turquoise Multilateral Trading Facility) Regulations 2008 – SI 2008/1814

This exempts certain transfers of, or agreements to transfer traded securities made in the course of trading in those securities on the Turquoise Multilateral Trading Facility (“the Facility”). The transfers and agreements exempted are those involving European Central Counterparty Limited (“EuroCCP”) (and nominees of that clearing house), through whom transactions on the Facility are cleared, or clearing participants in EuroCCP (and their nominees).

The Stamp Duty and Stamp Duty Reserve Tax (Investment Exchanges and Clearing Houses) Regulations (No. 2) 2009 – SI 2009/194

This exempts certain transfers of, or agreements to transfer traded securities made in the course of trading in those securities on the SmartPool Multilateral Trading Facility (“the Facility”). The transfers and agreements exempted are those involving European Central Counterparty Limited (“EuroCCP”) (and nominees of that clearing house), through whom transactions on the Facility are cleared, or clearing participants in EuroCCP (and their nominees).

The Stamp Duty and Stamp Duty Reserve Tax (Investment Exchanges and Clearing Houses) Regulations (No. 3) 2009 – SI 2009/397

This exempts certain transfers of, or agreements to transfer traded securities made in the course of trading in those securities on the NYSE Arca Europe Facility (“the Facility”). The transfers and agreements exempted are those involving EuroCCP (and nominees of that clearing house), through whom transactions on the Facility are cleared, or clearing participants in EuroCCP (and their nominees).

The Stamp Duty and Stamp Duty Reserve Tax (Investment Exchanges and Clearing Houses) Regulations (No. 9) 2009 – SI 2009/1828.

This exempts both LIFFE A&M and LCH.Clearnet Limited for certain transfers of, or agreements to transfer traded securities made in the course of trading in those securities on the market operated by LIFFE A&M. The transfers and agreements exempted are those involving LIFFE A&M or LCH.Clearnet Limited (or nominees of LIFFE A&M or LCH.Clearnet Limited), through whom transactions on the Exchange are cleared, or clearing participants in LIFFE A&M or LCH.Clearnet Limited (or their nominees).

The Stamp Duty and Stamp Duty Reserve Tax (Investment Exchanges and Clearing Houses) Regulations (No. 10) 2009 – SI 2009/1831

This exempts certain transfers of, or agreements to transfer traded securities made in the course of trading in those securities on the multilateral trading facility operated by NASDAQ OMX Europe Limited (“the Facility”). The transfers and agreements exempted are those involving SIX X-CLEAR AG (“X-CLEAR”) and/or European Multilateral Clearing Facility NV (“EMCF”) (and nominees of either clearing house), through whom transactions on the Facility are cleared, or clearing participants in SIX X-CLEAR AG or European Multilateral Clearing Facility NV (and their nominees). These Regulations also exempt transactions on the Facility between SIX X-CLEAR AG and European Multilateral Clearing Facility NV.

The Stamp Duty and Stamp Duty Reserve Tax (Eurex Clearing AG) Regulations 2011 – SI 2011/666

This gives relief to certain transfers of, or agreements to transfer, traded securities or options made in the course of trading in those traded securities or options either on a facility or over the counter. The transfers and agreements eligible for relief are those involving Eurex Clearing AG (“Eurex”), and its nominees, (through whom transactions on the facility are cleared) or clearing participants of Eurex and its nominees.

The Stamp Duty and Stamp Duty Reserve Tax (European Central Counterparty Limited) Regulations 2011 – SI 2011/667

This gives relief to certain transfers of, or agreements to transfer, traded securities or options made in the course of trading in those traded securities or options either on a facility or over the counter. The transfers and agreements eligible for relief are those involving European Central Counterparty Limited (“EuroCCP”), and its nominees, (through whom transactions on the facility are cleared) or clearing participants of EuroCCP and its nominees.

The Stamp Duty and Stamp Duty Reserve Tax (LCH.Clearnet Limited) Regulations 2011 – SI 2011/669

This gives relief to certain transfers of, or agreements to transfer, traded securities or options made in the course of trading in those traded securities or options either on a facility or over the counter. The transfers and agreements eligible for relief are those involving LCH.Clearnet Limited (“LCH.Clearnet”), and its nominees, (through whom transactions on the facility are cleared) or clearing participants of LCH.Clearnet and its nominees.

The Stamp Duty and Stamp Duty Reserve Tax (SIX X-CLEAR AG) Regulations 2011 – SI 2011/670

This gives relief to certain transfers of, or agreements to transfer, traded securities or options made in the course of trading in those traded securities or options either on a facility or over the counter. The transfers and agreements eligible for relief are those involving SIX X-CLEAR AG (“X-CLEAR”), and its nominees, (through whom transactions on the facility are cleared) or clearing participants of X-CLEAR and its nominees.

The Stamp Duty and Stamp Duty Reserve Tax (Cassa Di Compensazione E Garanzia S.p.A.) Regulations 2011 – SI 2011/2205

This gives relief to certain transfers of, or agreements to transfer, traded securities or options made in the course of trading in those traded securities or options either on a facility or over the counter. The transfers and agreements eligible for relief are those involving Cassa Di Compensazione E Garanzia S.p.A. (“CC&G”), and its nominees, (through whom transactions on the facility are cleared) or clearing participants of CC&G and its nominees.

The Stamp Duty and Stamp Duty Reserve Tax (ICE Clear Europe Limited) Regulations 2013 – SI 2013/1382

This gives relief to certain transfers of, or agreements to transfer, traded securities or options made in the course of trading in those traded securities or options either on a facility or over the counter. The transfers and agreements eligible for relief are those involving ICE Clear Europe Limited (“ICE Clear Europe”),and its nominees, (through whom transactions on the facility are cleared) or clearing participants of ICE Clear Europe and its nominees.

The Stamp Duty and Stamp Duty Reserve Tax (European Central Counterparty N.V.) Regulations 2014 – SI 2014/9

This gives relief to certain transfers of, or agreements to transfer, traded securities or options made in the course of trading in those traded securities or options either on a facility or over the counter. The transfers and agreements eligible for relief are those involving European Central Counterparty N.V. (“ECCN”), and its nominees, (through whom transactions on the facility are cleared) or clearing participants of ECCN and its nominees.

The Stamp Duty and Stamp Duty Reserve Tax (LCH SA) Regulations 2022 – SI 2022/102

This gives relief to certain transfers of, or agreements to transfer, traded securities or options made in the course of trading in those traded securities or options either on a facility or over the counter. The transfers and agreements eligible for relief are those involving LCH SA and its nominees (through whom transactions on the facility are cleared), or clearing participants of LCH SA and its nominees.