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Suzanne Hill Hogan Lovells

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SDRT no longer payable on share issues to depositary or clearance systems *

United Kingdom - May 1 2012
UK legislation provides for an SDRT or stamp duty charge at a rate of 1.5% where shares are transferred or issued to a depositary receipt issuer (or its nominee) or a clearance service operator (or its nominee), subject to exemptions for inter-system transfers.

Co-authors: Kevin Ashman.