Stamp Duties Consolidation Act 1999 section 68

Interpretation (Part 6)

Section 68 set out the definitions that applied throughout Part 6 of the Act, which dealt with the stamp duty treatment of electronic transfers of uncertificated securities through the CREST system.

• Section 68 was the interpretation provision for Part 6, which applied stamp duty to the electronic transfer of securities rather than to paper instruments.
• "Uncertificated securities" meant securities the ownership of which could be transferred electronically under a relevant system, namely the CREST system.
• The relevant system operated under the Companies Act 1990 (Uncertificated Securities) Regulations 1996, and "title to securities" included any legal or equitable interest in the securities.
• The section, along with the rest of Part 6, was repealed by section 69 of the Finance Act 2022.