(1) No duty is chargeable under this Chapter in respect of—
(a) a transfer of marketable securities that is made as a security, other than a transfer to secure the rights of a purchaser or intended purchaser of the marketable securities under a contemplated sale; or
(b) a re-transfer of marketable securities referred to in paragraph (a) to the original transferee.
(2) No duty is chargeable under this Chapter in respect of a transfer of marketable securities that is made for the sole purpose of—
(a) vesting the marketable securities in the transferee for sale and delivery; or
(b) qualifying the transferee as nominee director to act and vote on behalf of a holding company as it directs; or
(c) re-transferring marketable securities to a holding company referred to in paragraph (b).