- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
(1)Gains accruing to an authorised unit trust, an investment trust or a court investment fund shall not be chargeable gains.
(2)In section 267(3) of the Taxes Act (transfer of assets on company reconstruction etc.), the words “or 97” shall be omitted and at the end there shall be inserted the words " or which is an authorised unit trust within the meaning of Chapter VI of Part XII of this Act or to an investment trust within the meaning of that Chapter. "
(3)In subsection (1) of section 98 of the [1979 c. 14.] Capital Gains Tax Act 1979 (which refers to the said section 267) for the words from “to which at the time of the transfer” to “shall be treated ” there shall be substituted the words " or a company which at the time of the transfer was not such a unit trust scheme or investment trust as is mentioned in subsection (3) of that section, then if—
(a)at any time after the transfer—
(i)the unit trust scheme becomes in a year of assessment one which is such as is mentioned in that subsection; or
(ii)the company becomes for an accounting period an investment trust such as is there mentioned, and
(b)at the beginning of that year of assessment or accounting period the unit trust scheme or company still owns any of the assets of the business transferred,
the unit trust scheme or company shall be treated "; and in subsection (2) of that section after the words “year of assessment ” and “unit trust scheme ” there shall be inserted respectively the words “or accounting period ” and “or company ”.
(4)In section 273(2) of the Taxes Act (transfers within a group) after paragraph (b) there shall be inserted the words “or
(c)a disposal by or to an investment trust within the meaning of Chapter VI of Part XII of this Act;”.
(5)After section 275(2) of the Taxes Act (disposals outside a group) there shall be inserted—
“(3)Subsection (2) above does not apply where the asset was acquired on a disposal within section 273(2)(c) above.”
(6)Section 94 of the said Act of 1979 (reduction of tax on disposal of shares in unit trust etc.) shall cease to have effect.
(7)Subsections (1), (4) and (5) above have effect in relation to disposals after 31st March 1980, subsections (2) and (3) above have effect where the transfer referred to in section 267(3) is after that date and subsection (6) above has effect in relation to disposals after 5th April 1980.
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