The Stamp Duty and Stamp Duty Reserve Tax (Investment Exchanges and Clearing Houses) Regulations 2004
With effect from 20th October 1997 (being the day appointed by S.I. 1997/2428 (C.95)), sections 97, 98,102, and 103 of the Finance Act 1997 (c. 16) introduced new rules conferring relief from stamp duty and stamp duty reserve tax for intermediaries trading in United Kingdom securities, and similar relief in connection with stock borrowing and sale and repurchase arrangements.