Taxation of Chargeable Gains Act 1992

[F1 Participant absolutely entitled as against trustees U.K.

Textual Amendments

F1 Sch. 7D inserted (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), s. 723, Sch. 6 para. 221 (with Sch. 7)

3 (1) Sub-paragraph (2) applies to any shares awarded to a participant under the plan. U.K.

(2) The participant is treated for capital gains tax purposes as absolutely entitled to those shares as against the trustees.

(3) Sub-paragraph (2) applies notwithstanding anything in the plan or the trust instrument.]