52(1)In section 122 of the Gains Act (distribution which is not a new holding) in subsection (2) (treatment of distributions which the inspector is satisfied are comparatively small) the words “the inspector is satisfied that” and “and so directs” shall cease to have effect.U.K.
(2)Subsection (3) of that section (appeals from decisions of inspectors under subsection (2)) shall cease to have effect.
(3)In subsection (4)(a) of that section (subsections (2) and (3) not to apply in certain cases) for “subsections (2) and (3)” there shall be substituted “ subsection (2) ”.