{
  "url": "https://openlegislation.uk/taxation-international-and-other-provisions-act-2010/schedule-2/paragraph-41",
  "json_url": "https://openlegislation.uk/taxation-international-and-other-provisions-act-2010/schedule-2/paragraph-41.json",
  "legislation": "ukpga/2010/8",
  "legislation_title": "Taxation (International and Other Provisions) Act 2010",
  "legislation_url": "https://openlegislation.uk/taxation-international-and-other-provisions-act-2010",
  "path": "schedule/2/paragraph/41",
  "kind": "paragraph",
  "number": "41",
  "heading": null,
  "text": "After section 151T insert—\n“Treatment of bond-holder and bond-issuer\n151U (1) This section applies for the purposes of this Act and any other enactment about capital gains tax and irrespective of the position for other purposes.\n(2) The bond-holder under investment bond arrangements is not treated as having a legal or beneficial interest in the bond assets.\n(3) The bond-issuer under such arrangements is not treated as a trustee of the bond assets.\n(4) Gains accruing to the bond-issuer in connection with the bond assets are gains of the bond-issuer and not of the bond-holder (and do not arise to the bond-issuer in a fiduciary or representative capacity).\n(5) Payments made by the bond-issuer by way of redemption payment or additional payment are not made in a fiduciary or representative capacity.\n(6) The bond-holder is not entitled to relief for capital expenditure in connection with the bond assets.\n(7) Expressions used in this section have the same meaning as in section 151N.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2010/8/schedule/2/paragraph/41",
    "retrieved_at": "2026-10-29T09:10:17.008829+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}