(1) The Stamp Duty and Stamp Duty Reserve Tax (LCH.Clearnet Limited) Regulations 2011 [S.I. 2011/669.] are amended as follows.

(2) In regulation 2 -

(a) at the appropriate place insert -

""clearing member client contract" has the same meaning as in section 155 of the Companies Act 1989;

"default rules" and "defaulting" have the same meaning as in section 188 of the Companies Act 1989;

"EEA central counterparty" and "third country central counterparty" have the same meaning as in section 285 of the Financial Services and Markets Act 2000;";

(b) in the definition of "nominee" after "prescribed recognised clearing house," insert "prescribed EEA central counterparty or prescribed third country central counterparty".

(3) For regulation 3 substitute -

"3. Prescription of LCH.Clearnet

 LCH.Clearnet is prescribed for the purposes of sections 116 and 117 of the Finance Act 1991.".

(4) In regulation 4 -

(a) in paragraph (1) after "prescribed by" insert "paragraph (1A) or".

(b) after paragraph (1) insert -

"(1A) The circumstances prescribed by this paragraph are where, in connection with a facility transaction or an over the counter transaction, the conditions in paragraphs (1B) and (1C) are met.