Part 8Other reliefs

Chapter 3Gifts of shares, securities and real property to charities etc

Entitlement to relief

432Meaning of “qualifying investment”

1

In this Chapter “qualifying investment” means—

a

shares or securities which are listed F1on a recognised stock exchange or dealt in on any designated market in the United Kingdom,

b

units in an authorised unit trust,

c

shares in an open-ended investment company,

d

an interest in an offshore fund, and

e

a qualifying interest in land.

2

In this section—

  • F2“designated” means designated by an order made by the Commissioners for Her Majesty's Revenue and Customs for the purposes of subsection (1)(a),

  • “offshore fund” has the same meaning as in Chapter 5 of Part 17 of ICTA (see sections 756A to 756C of that Act), and

  • “open-ended investment company” is to be read in accordance with F4sections 613 and 615 of CTA 2010.

F33

An order under subsection (2) may—

a

designate a market by name or by reference to any class or description of market, and

b

vary or revoke a previous order under that subsection.