# Finance Act 1990, Paragraph 22

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

In a case where—
(a) paragraph 12 above would apply (apart from this paragraph) in the case of a transfer or redemption of a security, and
(b) immediately before the transfer or redemption was made the security was held for the purposes of an exempt approved scheme (within the meaning of Chapter I of Part XIV of the Taxes Act 1988),
that paragraph shall not apply in the case of the transfer or redemption.

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Source: https://www.legislation.gov.uk/ukpga/1990/29/schedule/10/paragraph/22 (the official version)
Page: https://openlegislation.uk/finance-act-1990/schedule-10/paragraph-22
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.