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Article 3

Original text. Later amendments are not shown.

The rate prescribed as the higher rate for the purposes of section 50 of the Inheritance Tax Act 1984 is the rate that is equal to the rate of the Irredeemables' yield shown in the indices which are known as the “FTSE Actuaries Government Securities UK Indices” and which are produced either—

(a)

for the date on which the value in question is to be determined, or, if those indices are not produced for that date,

(b)

for the latest date preceding that date for which those indices are produced.