4(1)An amount is exempt from income tax and capital gains tax if and to the extent that—
(a)it is paid out of an authorised reclaim fund in respect of a relevant dormant asset, and
(b)the amount transferred to the fund in respect of the asset was an amount owing to a person by virtue of an investment to which regulations under Chapter 3 of Part 6 of ITTOIA 2005 (exemption for income from individual investment plans) applied.
(2)In this paragraph—
“authorised reclaim fund” has the same meaning as in the Dormant Assets Acts 2008 to 2022;
“relevant dormant asset” has the same meaning as in section 39(2) of FA 2008 (as substituted by paragraph 2).
Commencement Information
I1Sch. 6 para. 4 not in force at Royal Assent, see Sch. 6 para. 6
I2Sch. 6 para. 4 in force at 6.6.2022 by S.I. 2022/569, reg. 2