# Finance Act 1993, Paragraph 8

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

(1) Subject to sub-paragraph (2) and paragraph 11(2)-(4)below, a member shall be treated for the purposes of the Income Tax Acts and the Gains Tax Acts as absolutely entitled as against the trustees to the assets forming part of his special reserve fund.
(2) Where an asset is disposed of by a member to the trustees of his special reserve fund, nothing in sub-paragraph (1) above shall affect the operation of the Gains Tax Acts in relation to that disposal.

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Source: https://www.legislation.gov.uk/ukpga/1993/34/schedule/20/paragraph/8 (the official version)
Page: https://openlegislation.uk/finance-act-1993/schedule-20/paragraph-8
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.