Income Tax Act 2007 (c. 3)

SCHEDULES

SCHEDULE 2 U.K. Transitionals and savings

Part 6 U.K. Losses on disposal of shares

Excluded activities: wholesale and retail distribution U.K.

53 (1) In relation to shares issued before 6 April 2007, section 193(5)(b) (as applied by section 137(7)) applies with the following modifications— U.K.

(a) the insertion after “held” of “by the company”, and

(b) the substitution for “the trader” of “a vendor”.

F1 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 Sch. 2 para. 53(2) repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)