SCHEDULES

SCHEDULE 38 Quotation or listing of securities

The Taxation of Chargeable Gains Act 1992

10

1

In each of the provisions of the Taxation of Chargeable Gains Act 1992 listed in sub-paragraph (2) below, for the word “quoted” (wherever occurring) there shall be substituted “ listed ”.

2

The provisions referred to in sub-paragraph (1) above are—

a

section 144(8)(b);

b

the definition of “unquoted company” in section 164N(1);

F1c

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d

section 276(2)(c) and (6);

e

section 281(3)(c); and

F1f

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3

So far as relating to the provisions mentioned in sub-paragraph (2)(a) and (c) to (f) above, sub-paragraph (1) above has effect in relation to disposals on or after 1st April 1996.

4

So far as relating to the provision mentioned in sub-paragraph (2)(b) above, sub-paragraph (1) above has effect in relation to acquisitions of qualifying investments (within the meaning of section 164A of that Act) on or after 1st April 1996.

11

1

In section 146(4)(b) of that Act (definition of “quoted shares and securities”), for the words “have a quoted market value” there shall be substituted the words “ are listed ”.

2

This paragraph has effect in relation to disposals of options on or after 1st April 1996.

12

F21

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2

In Schedule 11 to that Act (transitional provisions and savings), in paragraph 7(1)(a) (modification of section 272(3) when ascertaining market values before 25th March 1973), for “listed” there shall be substituted “ quoted ”.

3

This paragraph has effect where the relevant date falls on or after 1st April 1996.