{
  "url": "https://openlegislation.uk/finance-act-1996/schedule-15/paragraph-28",
  "json_url": "https://openlegislation.uk/finance-act-1996/schedule-15/paragraph-28.json",
  "legislation": "ukpga/1996/8",
  "legislation_title": "Finance Act 1996",
  "legislation_url": "https://openlegislation.uk/finance-act-1996",
  "path": "schedule/15/paragraph/28",
  "kind": "paragraph",
  "number": "28",
  "heading": null,
  "text": "For the purposes of Chapter 8 of Part 4 of the Income Tax (Trading and Other Income) Act 2005 (profits from deeply discounted securities) where—\n(a) a person held a qualifying indexed security both on and immediately after 5th April 1996, and\n(b) that security is a deeply discounted security,\nthe amount which that person shall be taken to have paid in respect of his acquisition of that security on or before 5th April 1996 shall be an amount equal to its market value on that date.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Sch. 15 para. 28 substituted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 491(3) (with Sch. 2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1996/8/schedule/15/paragraph/28",
    "retrieved_at": "2026-10-29T09:32:25.231034+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}