IE
S.I. No. 491/2012 - Stamp Duty (Designation of Exchanges and Markets) Regulations 2012.
Statutory Text (3 Articles)
1. (1) These Regulations may be cited as the Stamp Duty (Designation of Exchanges and Markets) Regulations 2012.
(2) These Regulations come into operation on 10 December 2012.
2. For the purposes of section 75 (inserted by
section 109
of the
Finance Act 2007
(No. 11 of 2007)) of the
Stamp Duties Consolidation Act 1999
(No. 31 of 1999), Blockmatch MTF, operated by Instinet Europe Limited, is designated as a market by the Revenue Commissioners.
GIVEN under my Hand,
5 December 2012.
NIALL CODY,
Revenue Commissioner.
EXPLANATORY NOTE
(This note is not part of the Instrument and does not purport to be a legal interpretation.)
Section 75 (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 title to securities to an intermediary if—
• the intermediary is a member of an exchange or market,
• the intermediary is approved by the Revenue Commissioners as a recognised intermediary on the exchange or market,
• the transfer of the securities is effected on the exchange or market concerned, on the Irish Stock Exchange Limited, the London Stock Exchange plc or any other exchange or market designated by the Revenue Commissioners, and
• the transfer is not effected in connection with an excluded business.
The purpose of these Regulations is the designation by the Revenue Commissioners, as on and from 10 December 2012, of Blockmatch MTF, operated by Instinet Europe Limited, as a market for the purposes of
section 75
of the
Stamp Duties Consolidation Act 1999
.
Notice of the making of this Statutory Instrument was published in
“Iris Oifigiúil” of
7
th December
, 2012.
The Revenue Commissioners, in exercise of the powers conferred on them by section 75(5)(
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