S.I. No. 87/2020 - Stamp Duty (Designation of Exchanges and Markets) (No. 1) Regulations 2020

1. (1) These Regulations may be cited as the Stamp Duty (Designation of Exchanges and Markets) (No. 1) Regulations 2020.

(2) These Regulations come into operation on 20 March 2020.

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), Euronext Brussels is designated as a market by the Revenue Commissioners.

GIVEN under my hand,

19 March 2020

NIALL CODY,

Revenue Commissioner.

EXPLANATORY NOTE

(

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

).

The purpose of these Regulations is the designation by the Revenue Commissioners, as on and from 20 March 2020, of Euronext Brussels as a market for the purposes of

section 75

of the

Stamp Duties Consolidation Act 1999

. Section 75 provides for an exemption from stamp duty on a transfer of title to securities to an intermediary where, inter alia,

—the intermediary is a member of an exchange or market designated by the Revenue Commissioners, and

—the transfer of the securities is effected on the designated 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.

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of

24

th March,

2020.

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