2(1)Section 710 of the Taxes Act 1988 (meaning of “securities” for the purposes of the accrued income scheme) shall be amended as follows.
(2)In subsection (2), after ““Securities” does not” there shall be inserted “ , except as provided by subsection (2A) below,”.
(3)After that subsection there shall be inserted—
“(2A)“Securities” includes shares in a building society which are qualifying shares for the purposes of section 64(3E) of the [1984 c. 43.] Finance Act 1984 (qualifying corporate bonds).”
(4)This paragraph shall have effect in relation to the application of sections 711 to 728 of the Taxes Act 1988 to transfers of securities on or after the day on which this Act is passed.