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')