{
  "url": "https://openlegislation.uk/capital-gains-tax-act-1979-repealed-631992/schedule-6/paragraph-3",
  "json_url": "https://openlegislation.uk/capital-gains-tax-act-1979-repealed-631992/schedule-6/paragraph-3.json",
  "legislation": "ukpga/1979/14",
  "legislation_title": "Capital Gains Tax Act 1979 (repealed 6.3.1992)",
  "legislation_url": "https://openlegislation.uk/capital-gains-tax-act-1979-repealed-631992",
  "path": "schedule/6/paragraph/3",
  "kind": "paragraph",
  "number": "3",
  "heading": null,
  "text": "(1) For the purpose of ascertaining the market value of any shares or securities in accordance with paragraph 1(2) of Schedule 5 to this Act, paragraph 2 above shall have effect subject to the provisions of this paragraph.\n(2) Sub-paragraph (3)(a) of that paragraph shall have effect as if for the words, “one-quarter” there were substituted the words “ one-half ”, and as between the amount under paragraph (a) and the amount under paragraph (b) of that sub-paragraph the higher, and not the lower, amount shall be chosen.\n(3) Sub-paragraph (4) of that paragraph shall have effect as if for the reference to an amount equal to the buying price there were substituted a reference to an amount halfway between the buying and selling prices.\n(4) Where the market value of any shares or securities not within the said sub-paragraph (3) falls to be ascertained by reference to a pair of prices quoted on a stock exchange, an adjustment shall be made so as to increase the market value by an amount corresponding to that by which any market value is increased under sub-paragraph (2) above.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1979/14/schedule/6/paragraph/3",
    "retrieved_at": "2026-10-29T10:18:25.768570+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}