Paragraph 5

In paragraph 18 (transfer of chargeable interest from a partnership: general), for sub-paragraphs (2) to (4) substitute—

“(2)

The chargeable consideration for the transaction shall (subject to paragraph 24) be taken to be equal to—

$$\mathrm{MV}\times \left(100-\mathrm{SLP}\right)\%$$

where—

MV is the market value of the interest transferred, and

SLP is the sum of the lower proportions.”

In sub-paragraph (6) of that paragraph, omit “(instead of sub-paragraphs (2) to (5))”.