# Value Added Tax Act 1994, Paragraph: Notes:


(1) For the purposes of this Group “investment gold” means—
(a) gold of a purity not less than 995 thousandths that is in the form of a bar, or a wafer, of a weight accepted by the bullion markets;
(b) a gold coin minted after 1800 that—
(i) is of a purity of not less than 900 thousandths,
(ii) is, or has been, legal tender in its country of origin, and
(iii) is of a description of coin that is normally sold at a price that does not exceed 180% of the open market value of the gold contained in the coin; or
(c) a gold coin of a description specified in a notice that has been published by the Commissioners for the purposes of this Group and has not been withdrawn.
(2) A notice under Note (1)(c) may provide that a description specified in the notice has effect only for the purposes of supplies made at times falling within a period specified in the notice.
(3) Item 2 does not include—
(a) the grant of an option, or
(b) the assignment or surrender of a right under an option at a time before the option is exercised.
(4) This Group does not include a supply—
(a) between members of the London Bullion Market Association, or
(b) by a member of that Association to a taxable person who is not a member or by such a person to a member.

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Source: https://www.legislation.gov.uk/ukpga/1994/23/schedule/9/part/II/chapter/15/paragraph/wrapper23n1 (the official version)
Page: https://openlegislation.uk/value-added-tax-act-1994/schedule-9/part-II/chapter-15/paragraph-wrapper23n1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.