SCHEDULES

SCHEDULE 16Property authorised investment funds and co-ownership authorised contractual schemes

PART 3Consequential amendments

10

In section 118 (market value)—

a

the existing text becomes subsection (1), and

b

after subsection (1) insert—

2

This is subject to paragraphs 7(7) and 17(7) of Schedule 7A (which define “market value” for certain purposes of PAIF seeding relief and COACS seeding relief).