Stamp Duties Consolidation Act 1999 section 105

Securitisation agreements

Section 105 exempts from stamp duty the transfer of securities issued by a designated body under the Securitisation (Proceeds of Certain Mortgages) Act 1995.

• No stamp duty arises on the transfer of securities issued by a designated body.
• "Designated body" and "housing authority" carry the same meanings as in section 1(1) of the Securitisation (Proceeds of Certain Mortgages) Act 1995.
• The 1995 Act was passed to fund arrears payments owed to women following a High Court ruling on the EU Directive on equal treatment in social security payments.
• The funds were raised by securitising a portfolio of mortgages held by local authorities, with securities issued by a special purpose vehicle established for that purpose.