51(1)In this Schedule—
“the Board” means the Commissioners of Inland Revenue;
“body” includes an unincorporated association;
“relief” means relief under Part 5 of this Schedule;
“tax year” means a year of assessment;
“the 1992 Act” means the Taxation of Chargeable Gains Act 1992 (c. 12).
(2)For the purposes of this Schedule shares in a company shall not be treated as being of the same class unless they would be so treated if dealt with on the Stock Exchange.
(3)Section 839 of the Taxes Act 1988 (connected persons) applies for the purposes of this Schedule.
(4)For the purposes of this Schedule the market value at any time of any asset is the price which it might reasonably be expected to fetch on a sale at that time in the open market free from any interest or right which exists by way of security in or over it.
(5)In this Schedule—
(a)references to relief obtained by the investor in respect of any investment (or part of an investment) include references to relief obtained by the investor in respect of that investment (or part) at any time after the investor has disposed of it, and
(b)references to the withdrawal or reduction of relief obtained by the investor in respect of the investment (or any part of it) include references to the withdrawal or reduction of relief obtained in respect of that investment (or part) at any such time.
(6)In the case of any condition that cannot be satisfied until a future date—
(a)references in this Schedule to a condition being satisfied for the time being are to nothing having occurred to prevent its being satisfied, and
(b)references to its continuing to be satisfied are to nothing occurring to prevent its being satisfied.