The Stamp Duty and Stamp Duty Reserve Tax (Investment Exchanges and Clearing Houses) Regulations (No. 11) 2009
These Regulations exempt from stamp duty and stamp duty reserve tax (“SDRT”) certain transfers of, or agreements to transfer traded securities made in the course of trading in those securities on the Baikal Multilateral Trading Facility (“the Facility”). The transfers and agreements exempted are those involving Cassa di Compensazione e Garanzia S.p.A. (“CC&G”) or European Multilateral Clearing Facility N.V. (“EMCF”) (and nominees of either clearing house), through whom transactions on the Facility are cleared, or clearing participants in CC&G or EMCF (and their nominees). These Regulations also exempt transactions on the Facility between CC&G and EMCF.