Conditional interests in shares
48(1)This paragraph applies where—
(a)a person had an interest in shares which was only conditional,
(b)in the tax year 2002-03 either—
(i)the shares ceased to be shares in which that person’s interest was only conditional,
(ii)the shares were disposed of, or
(iii)that person died, and
(c)that event gave rise to a charge under section 140A of ICTA (charge on conditional interest in shares ceasing to be conditional or on disposal).
(2)Section 433 (duty to notify events resulting in charges under section 427) applies in relation to the event subject to the following provisions.
(3)The particulars required by section 433(2) must be provided to the Inland Revenue before 6th May 2003.
(4)However, no particulars of the provision need be provided by a person under section 433 if that person has already given particulars of it under section 140G(2) of ICTA (which made provision corresponding to section 433 for tax years before 2003-04).