- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
28.—(1) This regulation applies in a case where—
(a)there is an arrangement involving the transfer of chargeable securities to which subsection (1) of section 89AA of the Finance Act 1986 applies,
(b)a capital payment would, but for the arrangement, be received by the person referred to as Q in that section or by his nominee on the euroconversion of those chargeable securities,
(c)neither the person referred to as P in that section nor his nominee is required under the arrangement to pay to Q or to Q’s nominee an amount equivalent to the amount of that capital payment, and an amount equivalent to the amount of that capital payment is not required under the arrangement to be taken into account in computing the price of the chargeable securities to be transferred to Q or his nominee under the arrangement, and
(d)the amount of the capital payment would not exceed 500 euros.
(2) P shall not be regarded, for the purposes of section 89AA of the Finance Act 1986, as a person to whom a benefit consisting of an amount equal to the capital payment referred to in paragraph (1) accrues as mentioned in subsection (4)(b) of that section.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include: