Stamp Duties Consolidation Act 1999 section 78J

Migration of securities

Section 78J exempts from stamp duty the migration of securities from a Central Securities Depository in the United Kingdom to one in the European Union, where that migration is carried out under the Migration of Participating Securities Act 2019.

• No stamp duty is chargeable on the migration of securities covered by this section.
• The exemption was introduced as a consequence of the United Kingdom leaving the European Union.
• It applies to the move from a UK Central Securities Depository (CSD) to a CSD located in the European Union, specifically Belgium.
• The transfers must be made under the Migration of Participating Securities Act 2019.