1171. General exemptions from stamp duty relating to bearer instruments and securities.

A number of exemptions apply in relation to bearer instruments and securities including exemptions relating to:

1.  

   (1)     securities under electronic transfer systems, where title may be transferred without a written instrument ('dematerialisation')¹;

2.  

   (2)     the acquisition of a target company's share capital²;

3.  

   (3)     certain specified classes of instrument³;

4.  

   (4)     renounceable letters of allotment, letters of rights, or other similar instruments⁴;

5.  

   (5)     shares in a UK company, and shares in a foreign company, which may only be transferred as part of a unit comprising one share in each company ('paired shares')