(1) The Finance Act 1991 [1991 c. 31; section 116 was amended by paragraph 5 of Schedule 20 to the Financial Services and Markets Act 2000 (c.8), paragraph 7 of Schedule 21 to the Finance Act 2007 (c.11) and section 65 of the Finance Act 2010 (c.13); section 117 was amended by section 65 of the Finance Act 2010.] is amended as follows.
(2) In section 116 (investment exchanges and clearing houses: stamp duty) -
(a) for subsection (1)(b) substitute -
"(b) involve a prescribed relevant entity, or a member or nominee (or member or nominee of a prescribed description) of such a relevant entity, or a nominee (or nominee of a prescribed description) of a member of such a relevant entity, and";
(b) at the end of subsection (4)(a) insert "and";
(c) for paragraphs (b) and (c) of subsection (4) substitute -
"(b) "relevant entity" means any of the following -
(i) a regulated market and a multilateral trading facility (within the meaning of the Directive);
(ii) a recognised clearing house, a recogn
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