Paragraph 12 C1
United Kingdom
A trust which was at the time it was established a qualifying employeeshare ownership trust shall continue to be one, except that it shall not besuch a trust at any time when the requirements mentioned in paragraph 3(3)(a)to (f) above are not satisfied. F1This paragraph applies in relation to trusts established on or before the day on which the Finance Act 1994 was passed.
Annotations
Textual amendments
- F1
Words in Sch. 5 para. 12 inserted (3.5.1994) by 1994 c. 9, s. 102, Sch. 13 para. 4
Modifications
- C1
See Finance Act 1990 (c. 29) ss.31–40—roll-over relief for disposal of shares to employeeshare ownership trusts
Notes on Schedule 5
Modifications
- C1
Sch. 5 applied (6.3.1992 with effect as mentioned in s. 289(1)(2) of the applying Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 228(7), 235(8), 289 (with ss. 60, 101(1), 171, 201(3))