
1 
These Regulations may be cited as the Stamp Duty and Stamp Duty Reserve Tax (Investment Exchanges and Clearing Houses) (Jiway Limited) Regulations 2000 and shall come into force on 10th November 2000.
2 
In these Regulations, “equity securities” means stocks and shares which are issued or raised by a company but does not include stocks and shares issued by a company not incorporated in the United Kingdom unless—
(a) they are registered in a register kept in the United Kingdom by or on behalf of the company, or
(b) in the case of shares, they are paired, within the meaning of section 99(6A) of the Finance Act 1986, with shares issued by a company incorporated in the United Kingdom.
3 
For the purposes of sections 116 and 117 of the Finance Act 1991, Jiway Limited is a recognised investment exchange which is prescribed.
4 

(1) In the circumstances prescribed by paragraph (2), a charge to stamp duty or to stamp duty reserve tax shall be treated as not arising.
(2) The circumstances prescribed by this paragraph are where, in connection with a transaction or transactions made or to be made on the exchange operated by Jiway Limited, equity securities are transferred or agreed to be transferred—
(a) to Jiway Limited; or
(b) to a person whose business is or includes holding equity securities as a nominee of Jiway Limited.
(3) In paragraph (2), references to Jiway Limited are references to that company in its capacity as a person providing clearing services in connection with transactions made on the exchange which it operates.
Bob Ainsworth
Jim Dowd
Two of the Lords Commissioners of Her Majesty’s Treasury
8th November 2000