Paragraph 3 I1

In consequence of the amendment made by paragraph 2, in each of the following provisions of ITA 2007, for “70%”, where it appears before “qualifying”, substitute “80%”—

(a)

in section 274, subsection (3)(c), (d) and (e);

(b)

in section 275 (alternative requirements for the giving of approval), subsection (3)(b);

(c)

in section 278 (conditions relating to value of investments: general), subsection (1);

(d)

in section 280 (conditions relating to qualifying holdings and eligible shares), subsection (2);

(e)

in section 280A (the 70% qualifying holdings condition: disposal of holding), in the heading and in subsection (2);

(f)

in Schedule 4 (index of defined expressions), the entry for the qualifying holdings condition.

Annotations

Commencement

I1: Sch. 5 para. 3 in force at 6.4.2019 for the purposes of the amendments made by that paragraph by S.I. 2018/931, reg. 4(a)