S.I. No. 302/2008 - Stamp Duty (Designation of Clearing Houses) (No. 2) Regulations 2008

1. (1) These Regulations may be cited as the Stamp Duty (Designation of Clearing Houses) (No. 2) Regulations 2008.

(2) These Regulations come into operation on 4 August 2008.

2. European Multilateral Clearing Facility N.V. is designated as a recognised clearing house for the purposes of section 75A (inserted by

section 109

of the

Finance Act 2007

(No. 11 of 2007)) of the

Stamp Duties Consolidation Act 1999

(No. 31 of 1999).

GIVEN under my hand,

28 July 2008

MICHAEL O’GRADY,

Revenue Commissioner.

EXPLANATORY NOTE

(This note is not part of the Instrument and does not purport to be a legal interpretation).

Section 75A (inserted by

section 109

of the

Finance Act 2007

) of the

Stamp Duties Consolidation Act 1999

provides for an exemption from stamp duty on a transfer of securities to and from a recognised clearing house, commonly known as a “CCP”, in specified circumstances.

The purpose of these Regulations is the designation by the Revenue Commissioners, as on and from 4 August 2008, of European Multilateral Clearing Facility N.V. as a recognised clearing house for the purposes of section 75A of the

Stamp Duties Consolidation Act 1999

.

S.I. No. 302 of 2008

STAMP DUTY (DESIGNATION OF CLEARING HOUSES) (No. 2) REGULATIONS 2008

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of

5

th August

, 2008.

The Revenue Commissioners, in exercise of the powers conferred on them by section 75A(6)(

a

) (inserted by

section 109

of the

Finance Act 2007

(No. 11 of 2007)) of the

Stamp Duties Consolidation Act 1999

(No. 31 of 1999), hereby make the following regulations