Consequential amendments8
1
In section 151H of TCGA 1992 (introduction to Chapter 4 of Part 4 of that Act)10, in subsection (1), omit “with financial institutions”.
2
In section 151R of that Act11 (diminishing shared ownership arrangements), in subsection (2)—
a
for “institution” substitute “first owner”
, and
b
for “institution’s” substitute “first owner’s”
.
3
In section 173A of ITEPA 200312 (alternative finance arrangements)—
a
in subsection (3)(b), for “financial institution’s” substitute “first owner’s”
,
b
in subsection (3)(c), for “financial institution” substitute “first owner”
, and
c
in subsection (4)—
i
omit the “and” after the definition of “alternative finance return”, and
ii
after the definition of “financial institution” insert—
, and
“first owner” is to be construed in accordance with section 564D of ITA 2007 or section 504 of CTA 2009.
4
In section 564A of ITA 200713 (introduction to Part 10A of that Act), in subsection (1)(a), omit “with financial institutions”.
5
In section 564K of that Act14 (diminishing shared ownership arrangements), in subsection (2)—
a
for “institution” substitute “first owner”
, and
b
for “institution’s” substitute “first owner’s”
.
6
In section 501 of CTA 2009 (introduction to Chapter 6 of Part 6 of that Act), in subsection (1), omit “between companies and financial institutions”.
7
In section 512 of that Act (diminishing shared ownership arrangements), in subsection (2)—
a
for “institution” substitute “first owner”
, and
b
for “institution’s” substitute “first owner’s”
.