Stamp Duties Consolidation Act 1999 section 75A

Relief for clearing houses

Section 75A exempts from stamp duty transfers of securities made to and from a central counterparty in the course of clearing and settlement, where the securities are passed on under a matching transfer.

• Removes the stamp duty charge on transfers of securities to and from a central counterparty (CCP) for instruments of transfer executed on or after 1 October 2007.
• Applies only to a defined set of transfers within the clearing chain involving clearing participants, clients, non-clearing participants and recognised clearing houses.
• Relief depends on the person receiving the securities being required to pass on identical securities to another person under a matching transfer.
• Names the recognised clearing houses and allows Revenue to designate further ones by regulations, subject to annulment by Dáil Éireann.