# Finance Act 1994, Paragraph 7


(1) Paragraph 9 of Schedule 5 (transfer of securities) shall be amended as follows.
(2) In sub-paragraph (1)(b) for “period of seven years” there shall be substituted “ qualifying period ”.
(3) After sub-paragraph (2) there shall be inserted—
“(2A) For the purposes of sub-paragraph (1) above the qualifying period is—
(a) seven years, in the case of trusts established on or before the day on which the Finance Act 1994 was passed;
(b) twenty years, in the case of other trusts.”

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Source: https://www.legislation.gov.uk/ukpga/1994/9/schedule/13/paragraph/7 (the official version)
Page: https://openlegislation.uk/finance-act-1994/schedule-13/paragraph-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.