Regulation 2 Amendment of section 89AA of the Finance Act 1986

In section 89AA(2A) of the Finance Act 1986 (exception from the principal charge for repurchases and stock lending)^f1—

(a)

omit “and” at the end of paragraph (a), and

(b)

at the end of paragraph (b) insert

“; and

(c)

that chargeable securities are transferred to P or his nominee and Q or his nominee in pursuance of the arrangement.”.

Annotations

f1: Subsection (2A) of section 89AA was inserted by paragraph 6(3) of Schedule 21 to the Finance Act 2007.