The Finance Act 1986 (Stamp Duty and Stamp Duty Reserve Tax) (Amendment) Regulations 1988
Sections 81(3) and 89(3) of the Finance Act 1986 contain definitions of “market maker” for the purposes of exemption from stamp duty and stamp duty reserve tax respectively. Sections 81(5) and 89(5) provide that the Treasury may by regulations provide that for sections 81(3) and 89(3) there shall be substituted subsections containing different definitions of “market maker” for the purposes of those sections. These Regulations substitute such subsections for sections 81(3) and 89(3).