Finance Act 1998

101 Dealers in securities etc.E+W+S+N.I.

(1)Section 471 of the Taxes Act 1988 (exchange of securities in connection with conversion operations, nationalisation etc.) shall cease to have effect.

(2)Section 472 of that Act (distribution of securities issued in connection with nationalisation etc.) shall cease to have effect.

(3)Subsection (1) above applies in relation to exchanges made after the day on which this Act is passed.

(4)Subsection (2) above applies in relation to issues of securities occurring after that day.