Finance Act 1975

7 (1) In section 50 of the [1946 c. 64.] Finance Act 1946—

(a) in subsection (1), for the words "section 56 of the [1910 c. 8.] Finance (1909-10) Act 1910 " there shall be substituted the words " paragraph 17 of Schedule 4 to the Finance Act 1975 ", and for the word "duty" there shall be substituted the words " capital transfer tax ";

(b) in subsection (2), for the word "duty" wherever it occurs there shall be substituted the word " tax "; and

(c) in subsection (5), after the word " sub-lease" there shall be inserted the words " or the lending ", and for the words " in respect of " there shall be substituted the word " of ".

(2) In section 51 of that Act—

(a) in subsection (1), for the words " section 56 of the Finance (1909-10) Act 1910" there shall be substituted the words " paragraph 17 of Schedule 4 to the Finance Act 1975 "; and

(b) in subsection (2), for the words " section 56" there shall be substituted the words " paragraph 17 ".