Paragraph 12 F1

(1)

For the purposes of the taxable property provisions an investment-regulated pension scheme acquires an interest in property if it comes to hold the interest.

(2)

Sub-paragraph (1) applies however the pension scheme comes to hold the interest, whether that is—

(a)

by act of the parties to a transaction,

(b)

by order of a court or other authority,

(c)

by or under any statutory provision, or

(d)

by operation of law.

(3)

For instances of deemed acquisition, see paragraphs 27 to 29.

Annotations

Textual amendments

F1: Sch. 29A inserted (retrospective to 6.4.2006) by Finance Act 2006 (c. 25), s. 158(2), Sch. 21 para. 13