Schedules
Schedule 11Capital-raising arrangements etc
Part 2Bearer instruments
19
1
Schedule 15 to FA 1999 (stamp duty: bearer instruments) is amended as follows.
2
Omit paragraph 1 (charge on issue of instrument) and the italic heading before it.
3
In paragraph 2 (charge on transfers of stock by means of instrument), in the words before paragraph (a) omit “duty was not chargeable under paragraph 1 on the issue of the instrument and”.
4
In paragraph 4 (1.5% rate of duty) omit “or 6”.
5
Omit paragraph 7 (ascertainment of market value for charge on issue of instrument).
6
In paragraph 17 (exemption for issue of instruments relating to non-sterling stock), in sub-paragraph (1)—
a
in the words before paragraph (a) omit “the issue of”;
b
omit the words after paragraph (b).
7
Omit the italic heading before paragraph 21.
8
Omit paragraph 21 (procedure for stamping instruments where duty chargeable on issue).
9
Omit paragraph 22 (consequences of default in complying with procedure for stamping).