SCHEDULES
SCHEDULE 20Taxation of hybrid capital instruments
PART 3Stamp duty and stamp duty reserve tax
20
A transfer of a hybrid capital instrument (within the meaning of section 475C of CTA 2009) is exempt from all stamp duties.
21
a
for the purposes of stamp duty, in relation to instruments executed on or after the day on which this Act is passed, and
b
for the purposes of stamp duty reserve tax—
i
in the case of agreements to transfer securities which are not conditional, in relation to agreements made on or after that day, and
ii
in the case of agreements to transfer securities which are conditional, in relation to agreements where the condition is satisfied on or after that day.