Amendments To Stamp Duty Exemption Order On Qualifying Restructuring/ Rescheduling Agreements

>The Stamp Duty (Exemption) (No. 2) Order 2020 ('Exemption Order') has been amended by the Stamp Duty (Exemption) (No. 2) (Amendment) Order 2021 ('Amendment Order') which was gazetted on 25 January 2021 and is deemed to have come into operation retrospectively on 1 March 2020.

The Exemption Order, which exempts from stamp duty for qualifying loan or financing agreements relating to the restructuring or rescheduling of existing business loans or financing, has been amended by the Amendment Order in the following respects -

1. The deletion of the word "business" in paragraph 2(1) of the Exemption Order so that the exemption applies to instruments or financing agreements for the restructuring or rescheduling of a "loan or financing" whereas previously, the instrument or agreement had to relate to the restructuring or rescheduling of a "business loan or financing";