S.I. No. 302/2008 - Stamp Duty (Designation of Clearing Houses) (No. 2) Regulations 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 5th 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: | ||
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). | ||
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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 . |
