Section 57 | Stamp duty reserve tax

(1)At the end of section 99(4) of FA 1986 (stamp duty reserve tax: interpretation: chargeable securities) add—

(d)they are issued or raised by an SE (whether or not in the course of its formation in accordance with Article 2 of Council Regulation (EC) 2157/2001 on the Statute for a European Company (Societas Europaea)) and, at the time when it falls to be determined whether the securities are chargeable securities, the SE has its registered office in the United Kingdom.

(4A)“Chargeable securities” does not include securities falling within paragraph (a), (b) or (c) of subsection (3) above if—

(a)they are securities issued or raised by an SE (whether or not in the course of its formation in accordance with Article 2 of Council Regulation (EC) 2157/2001 on the Statute for a European Company (Societas Europaea)), and

(b)at the time when it falls to be determined whether the securities are chargeable securities, the SE has its registered office outside the United Kingdom.

(2)Subsection (1) shall have effect for the purposes of determining, in relation to anything occurring on or after 1st April 2005, whether securities (whenever issued or raised) are chargeable securities for the purposes of Part 4 of FA 1986.