Section 75A Relief for clearing houses

This section contains an exemption from stamp duty for transfers of securities to and from a central counterparty commonly known as a “CCP”, in specified circumstances. A CCP is an entity which introduces post-trade anonymity on exchanges or markets where member firms submit orders for shares. The relief applies to instruments of transfer executed on or after 1 October 2007. See Commencement Order entitled “Finance Act 2007” (Commencement of Section 109) Order 2007 (S.I. No 649 of 2007).

The circumstances where the exemption applies were extended under the section 98 of the Finance Act 2012 to include the transfer of securities “from a recognised clearing house or a nominee of a recognised clearing house, to another recognised clearing house or a nominee of that clearing house”.

Relevant Date: Finance Act 2014