Paragraph 58

(1)

Amend section 84 (gifts to educational establishments) as follows.

(2)

In subsection (1)—

(a)

for “a person carrying on a trade, profession or vocation” substitute “ a company carrying on a trade or profession ”, and

(b)

for “his trade” substitute “ its trade ”.

(3)

In subsection (3)—

(a)

for “the purposes of the Tax Acts” substitute “ corporation tax purposes ”, and

(b)

for “his disposal” substitute “ its disposal ”.

(4)

In subsection (3A) for “above is—” to the end substitute “ the period of two years beginning at the end of the accounting period in which the gift is made. ”

(5)

Omit subsection (3B).

(6)

In subsection (4)—

(a)

after “in respect of the gift of an article” insert “ made by the donor ”,

(b)

for “chargeable period”, in both places where it occurs, substitute “ accounting period ”,

(c)

for “him” substitute “ the donor ”,

(d)

before “tax”, in both places where it occurs, insert “ corporation ”, and

(e)

for “he” substitute “ the donor ”.