Amendment of the principal Regulations

3.—(1) Amend regulation 2 of the principal Regulations as follows.

(2) In paragraph (1) at the end of the definition of “section 552” add “and a reference to that section without more includes, where necessary, a reference to section 552ZA of the Taxes Act(1);”.

(3) In paragraph (3) for “subsection (2) of section 552 shall be disregarded” substitute “the words “unless satisfied that no gain is to be treated as arising by reason of the event” in subsection (1)(a) shall be disregarded”.


Section 552ZA supplements section 552 and is directed to be construed as one with it by section 552ZA(1).