Section 713: Introduction: securities free of tax to residents abroad (“FOTRA securities”)
2734.This section sets out the scope of the Chapter. It is based on section 154(8) of FA 1996 and section 161 of FA 1998.
2735.Subsection (2) sets out the three different classes of FOTRA securities. Each class of FOTRA security has its own distinct rules.
2736.Subsection (3) to (6) define the term “the exemption condition” used in this Chapter. There are different definitions for each of the three classes of FOTRA securities in subsection (2).