Paragraph 2

United Kingdom

(1)

In a case where—

(a)

there is for the purposes of the 1992 Act a disposal of currency other than sterling by a qualifying company, and

(b)

immediately before the disposal the company did not hold the currency in exempt circumstances (within the meaning given by paragraph 3 below),

for the purposes of that Act no chargeable gain or allowable loss shall accrue on the disposal.

(2)

This paragraph applies to disposals on or after the company’s commencement day.

Notes on Schedule 17

F1: Sch. 17 repealed (24.7.2002 with effect as mentioned in s. 79(3) of the amending Act) by 2002 c. 23 ss. 79(1)(b), 141, Sch. 40 Pt. 3(10) Note 2 (with Sch. 23 paras. 25, 26)