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Finance Act 1986

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Changes over time for: Section 97B

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There are outstanding changes not yet made by the legislation.gov.uk editorial team to Finance Act 1986. Any changes that have already been made by the team appear in the content and are referenced with annotations. Help about Changes to Legislation

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Changes and effects yet to be applied to Section 97B:

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Whole provisions yet to be inserted into this Act (including any effects on those provisions):

[F197B Transfer between depositary receipt system and clearance system.U.K.

(1)There shall be no charge to tax under section 93 or 96 above where securities are transferred between a depositary receipt system and a clearance system.

[F2(1A)Subsection (1) is subject to section 97C.]

(2)A transfer between a depositary receipt system and a clearance system means a transfer—

(a)from (or to) a company which at the time of the transfer falls within section 67(6) above, and

(b)to (or from) a company which at that time falls within section 70(6) above.

(3)This section does not apply to a transfer from a clearance system (that is, from such a company as is mentioned in subsection (2)(b) above) if at the time of the transfer an election is in force under section 97A above in relation to the clearance services for the purposes of which the securities are held immediately before the transfer.]

Textual Amendments

F1S. 97B inserted (with effect in as mentioned in s. 134(5)(b) of the amending Act) by Finance Act 2000 (c. 17), s. 134(2)

F2S. 97B(1A) inserted (with effect in accordance with s. 54(6) of the amending Act) by Finance Act 2010 (c. 13), s. 54(4)

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