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Taxation of Chargeable Gains Act 1992

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121Exemption for government non-marketable securities

(1)Savings certificates and non-marketable securities issued under the [1968 c. 13.] National Loans Act 1968 or the [1939 c. 117.] National Loans Act 1939, or any corresponding enactment forming part of the law of Northern Ireland, shall not be chargeable assets, and accordingly no chargeable gain shall accrue on their disposal.

(2)In this section—

(a)“savings certificates” means savings certificates issued under section 12 of the [1968 c. 13.] National Loans Act 1968, or section 7 of the [1958 (7 Eliz. 2) c.6.] National Debt Act 1958, or section 59 of the [1920 c. 18.] Finance Act 1920, and any war savings certificates as defined in section 9(3) of the [1972 c. 65.] National Debt Act 1972, together with any savings certificates issued under any enactment forming part of the law of Northern Ireland and corresponding to the said enactments, and

(b)“non-marketable securities” means securities which are not transferable, or which are transferable only with the consent of some Minister of the Crown, or the consent of a department of the Government of Northern Ireland, or only with the consent of the National Debt Commissioners.

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