# Finance (No. 2) Act 2005, Paragraph 8


In paragraph 8 of Schedule 7 (acquisition relief)—
(a) in sub-paragraph (1)(b) for “the first and second conditions” substitute “ all the conditions ”, and
(b) after sub-paragraph (5) insert—
“(5A) The third condition is that the undertaking or part acquired by the acquiring company has as its main activity the carrying on of a trade that does not consist wholly or mainly of dealing in chargeable interests.
In this sub-paragraph “trade” has the same meaning as in the Taxes Act 1988.”

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Source: https://www.legislation.gov.uk/ukpga/2005/22/schedule/10/paragraph/8 (the official version)
Page: https://openlegislation.uk/finance-no-2-act-2005/schedule-10/paragraph-8
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.