Bill Type
Congress Name
Long Title
AN ACT EXEMPTING FROM DOCUMENTARY STAMP TAX THE BORROWING AND LENDING OF SECURITIES UNDER THE AUSPICES OF THE LOCAL STOCK EXCHANGE, AMENDING FOR THE PURPOSE SECTION 180 OF THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED
Date filed
December 6, 2001
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 4040, 12th Congress of the Republic | |
| FULL TITLE : AN ACT EXEMPTING FROM DOCUMENTARY STAMP TAX THE BORROWING AND LENDING OF SECURITIES UNDER THE AUSPICES OF THE LOCAL STOCK EXCHANGE, AMENDING FOR THE PURPOSE SECTION 180 OF THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED | |
| ABSTRACT : THE BORROWING AND LENDING OF SECURITIES EXECUTED UNDER THE SECURITIES BORROWING AND LENDING PROGRAM OF THE LOCAL STOCK EXCHANGE FOR PURPOSES OF TRADING STRATEGIES OF EITHER THE BORROWER OR LENDER, SHALL BE EXEMPT FROM THE PAYMENT OF THE DOCUMENTARYSTAMP TAX IMPOSED HEREON. FOR PURPOSES OF THIS SECTION, THE BORROWING AND LENDING OF SECURITIES SHALL MEAN THE TRANSFER OF SECURITIES FROM AN INVESTOR'S PORTFOLIO TO A BORROWER OR LENDER WITHOUT A CHANGE IN BENEFICIAL OWNERSHIP OF THE BORROWED SECURITIES AND EXECUTED TO SUPPORT TRADING STRATEGIES OF THE BORROWER OR THE LENDER. | |
| PRINCIPAL AUTHOR/S : LEDESMA, JULIO IV A. | |
| DATE FILED : 2001-12-06 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS : | |
| 1. Teves | 2. Lapus |
| CO-AUTHORS (Journal Entries) : | |
| 1. Chiongbian (062 ) | |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE | |
| MOTHER BILL: House Bill No. 4480, 12th Congress of the Republic | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2001-12-12 |
Abstract
"THE BORROWING AND LENDING OF SECURITIES EXECUTED UNDER THE SECURITIES BORROWING AND LENDING PROGRAM OF THE LOCAL STOCK EXCHANGE FOR PURPOSES OF TRADING STRATEGIES OF EITHER THE BORROWER OR LENDER, SHALL BE EXEMPT FROM THE PAYMENT OF THE DOCUMENTARYSTAMP TAX IMPOSED HEREON. FOR PURPOSES OF THIS SECTION, THE BORROWING AND LENDING OF SECURITIES SHALL MEAN THE TRANSFER OF SECURITIES FROM AN INVESTOR'S PORTFOLIO TO A BORROWER OR LENDER WITHOUT A CHANGE IN BENEFICIAL OWNERSHIP OF THE BORROWED SECURITIES AND EXECUTED TO SUPPORT TRADING STRATEGIES OF THE BORROWER OR THE LENDER."
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Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.