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Section 151: Depositary receipts and clearance services: exchanges of shares.

Finance Act 1998 · 1998 c. 36View on legislation.gov.uk

Part V: Other Taxes

In section 95 of the Finance Act 1986 (depositary receipts; exceptions) in subsection (3) (exchanges) after paragraph (b) there shall be added— " and the shares in company Y are held under a depositary receipt scheme. "

At the end of that section there shall be added—

In section 97 of the Finance Act 1986 (clearance services: exceptions) in subsection (4) (exchanges) after paragraph (b) there shall be added— " and the shares in company Y are held under a clearance services scheme. "

At the end of that section there shall be added—

In section 99(10) of the Finance Act 1986 (which makes provision in relation to the interpretation of "chargeable securities" in sections 93, 94, 96 and 97A)—

after "94," there shall be inserted ; and" 95, "
after "96" there shall be inserted ." , 97 "

This section applies where the issue by company X referred to in section 95(3) or (6) or 97(4) or (7) of the Finance Act 1986 is an issue on or after 1st May 1998.

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This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.