Paragraph 56
United Kingdom
The removal or variation of a restriction applying to shares or an interest in shares acquired before 26th October 1987 is not a chargeable event for the purposes of section 449 F1, as originally enacted, if paragraph 7 of Schedule 8 to FA 1973 (requirement for disposal to nominees at price not exceeding market value on termination of employment) would have applied to it.
Annotations
Textual amendments
- F1
Words in Sch. 7 para. 56 inserted (16.4.2003) by Finance Act 2003 (c. 14), Sch. 22 para. 46(15)(26)(b)
Notes on Part 7
Textual amendments
- F1
Words in Sch. 7 Pt. 7 heading substituted (10.7.2003) by Finance Act 2003 (c. 14), Sch. 22 para. 46(4)