Finance Act, 1979
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Exemption from stamp duty of certain transfers. |
54.—(1) Stamp duty shall not be chargeable on any transfer to a stock exchange nominee which is executed for the purposes of a stock exchange transaction. | |
(2) In this section— | ||
“stock exchange nominee” means a person designated, by regulations made by the Minister for Industry, Commerce and Energy, as a nominee of a recognised stock exchange for the purposes of the Companies (Amendment) Act, 1977 ; | ||
“stock exchange transaction” means a sale and purchase of securities in which each of the parties is a member of a recognised stock exchange acting in the ordinary course of his business as such or is acting through the agency of such a member. |