Paragraph 45

(1)

Section 201 of TCGA 1992 (mineral leases: royalties) is repealed.

(2)

In consequence of the provision made by sub-paragraph (1), in section 203 of TCGA 1992—

(a)

in subsection (1), for “sections 201 and 202” substitute “ section 202 ”, and

(b)

in the heading, for “sections 201 and 202” substitute “ section 202 ”.

(3)

The amendments made by this paragraph have effect—

(a)

for the purposes of capital gains tax, in relation to mineral royalties which a person is entitled to receive on or after 6 April 2013, and

(b)

for the purposes of corporation tax in respect of chargeable gains, in relation to mineral royalties which a company is entitled to receive on or after 1 April 2013.