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Income and Corporation Taxes Act 1988

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This is the original version (as it was originally enacted).

Shares held by trustees of approved profit sharing schemes

39In applying section 187(3), as respects any time before or after the passing of this Act, there shall be disregarded—

(a)the interest of the trustees of an approved profit sharing scheme in any shares which are held by them in accordance with the scheme and have not yet been appropriated to an individual; and

(b)any rights exercisable by those trustees by virtue of that interest.

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