Clause 16

by inserting, immediately after paragraph (h) of Article 3, the following paragraph: “(i)of any property or any interest of property which is distributed in specie to a shareholder of a VCC in connection with a liquidation of the VCC or any of its sub‑funds The same duty as in paragraph (a) or (c), as the case may be”; and Exemption: In a case where the conveyance, assignment or transfer is effected by more than one instrument and one instrument has been duly stamped, each other instrument. (b)by deleting the words “a trustee for a collective investment scheme when acting in that capacity” in the definition of “entity” in paragraph (1) of Article 3 and substituting the words “a VCC (whether or not acting for the purpose of a sub‑fund), a trustee for a collective investment scheme (not being one that is a VCC or a sub‑fund) when acting in that capacity”.