Paragraph 14

United Kingdom

In a case where—

(a)

paragraph 5 above would apply (apart from this paragraph) to a transferor redemption of a security, and

(b)

immediately before the transfer or redemption was made the security washeld for the purposes of an exempt approved scheme (within the meaning ofChapter I of Part XIV of the Taxes Act 1988),

that paragraph shall not apply to the transfer or redemption.

Notes on Schedule 11

Textual amendments

F1: Sch. 11 repealed (29.4.1996) by 1996 c. 8, ss. 104, 205, Sch. 14 para. 57, Sch. 41 Pt. V(3) (with savings in Pt. IV Ch. II (ss. 80-105))