3(1)Section 809Y (property that ceases to be exempt property treated as remitted) is amended as follows.U.K.
(2)In subsection (2), for “either” substitute “ any ”.
(3)After subsection (4) insert—
“(4A)Where exempt property has been lost, stolen or destroyed, the first and second cases do not apply in relation to the property during any period—
(a)beginning with the time at which it was lost, stolen or destroyed, and
(b)(if lost or stolen) ending with the time at which it is recovered.
(4B)The third case is where a compensation payment is released in respect of exempt property that has been lost, stolen or destroyed.”
(4)In subsection (6), after “exempt property” insert “ by virtue of the first or second case ”.