I thank the noble Lord, Lord Young, for his support on this important legislation. Although it sounds complicated, it is straightforward. All we are asking is that companies that take over and acquire the entire share capital of a target company should pay their fair share of stamp duty. There were, effectively, many ways of avoiding this in the past and very few transactions were taking place. Lately, however, we have seen the number of transactions increasing. It is
therefore only right that companies that take over other companies pay their fair share of stamp duty on the sale of the shares. It is a very small sum: one half of 1%. I thank the noble Lord for his support and commend the regulations to the Committee.