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The Finance Act 2008, Section 39(7) (Commencement) Order 2011

S.I. 2011/23 · Made 10 January 2011

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Capital Gains Tax

Made 10th January 2011

The Treasury make the following Order in exercise of the powers conferred by section 39(8) of the Finance Act 2008f1:

Annotations to the whole text

Footnotes

f1

2008 c. 9.

Contents

  1. 1Citation
  2. 2Appointed Day
  3. Signature
  4. Explanatory note

1Citation

This Order may be cited as the Finance Act 2008, Section 39(7) (Commencement) Order 2011.

2Appointed Day

The day appointed for the coming into force of section 39(7) of the Finance Act 2008 is 1st February 2011.

Signature

Michael Fabricant

James Duddridge

Two of the Lords Commissioners of Her Majesty’s Treasury

10th January 2011

Explanatory note

(This note is not part of the Order)

This Order brings into force section 39(7) of the Finance Act 2008 (c. 9) which inserted a new section, section 26A, in the Taxation of Chargeable Gains Act 1992 (c. 12). Section 26A deals with dormant bank or building society accounts (under the Dormant Bank and Building Society Accounts Act 2008 (c. 31)) and provides that the transfer of the balance of a dormant account to an authorised reclaim fund (or such a fund and one or more charities) is not to be treated as the disposal or acquisition of an asset.