# Capital Gains Tax Act 1979 (repealed 6.3.1992), Paragraph 2

Extent: E+W+S+N.I.

(1) The Taxes Act shall be amended as follows.
(2) In section 270(3) for the words from “disposal” to the end of the subsection substitute—
“disposal, and the asset consists of specified securities, the company acquiring the asset shall be treated for the purposes of sections 67 to 70 of the Capital Gains Tax Act 1979 as acquiring it at the time when the other acquired it.”
(3) At the end of section 270 (in place of the subsection (6) inserted by paragraph 12 of Schedule 10 to the Finance Act 1971) insert—
“(6) In this section “specified securities” means securities which are gilt-edged securities as defined by Schedule 2 to the Capital Gains Tax Act 1979.”
(4) In section 279(1)(a) after “1965” insert “ but before 20th April 1977 ”.

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Source: https://www.legislation.gov.uk/ukpga/1979/14/schedule/7/paragraph/2 (the official version)
Page: https://openlegislation.uk/capital-gains-tax-act-1979-repealed-631992/schedule-7/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.