The Stamp Duty and Stamp Duty Reserve Tax (Collective Investment Schemes) (Exemptions) Regulations 2013
These Regulations, which come into force on 28th June 2013, amend the stamp duty legislation contained in Schedule13 to the Finance Act 1999 (“Schedule 13”) and the stamp duty reserve tax legislation contained in PartIV of the Finance Act 1986 (“FA 86”). They amend the primary legislation to provide exemptions for certain transactions relating to certain collective investment schemes. The schemes concerned are contractual schemes provided for by a new section235A of the Financial Services and Markets Act 2000 (“FSMA”) which was inserted by regulation 3 of the Collective Investment in Transferable Securities (Contractual Scheme) Regulations 2013 (“the principal Regulations”).