8(1)In this Part of this Schedule—
(a)“the principal Act” means the Capital Gains Tax Act 1979;
(b)“the 1982 Act” means the Finance Act 1982; and
(c)“relevant allowable expenditure” has the meaning assigned to it be subsection (2)(b) and (3) of section 86 of the 1982 Act .
(2)This Part of this Schedule shall apply separately in relation to any securities held by a person to whom they were issued as an employee of the company or of any other person on terms which restrict his rights to dispose of them, so long as those terms are in force, and, while applying separately to any such securities, this Part of this Schedule shall have effect as if the owner held them in a capacity other than that in which he holds any other securities of the same class .
(3)Nothing in this Part of this Schedule shall be taken as affecting the manner in which the market value of any securities is to be ascertained.
Modifications etc. (not altering text)
C1Finance Act 1988 (c. 39, SIF63:1, 2), s. 113—sub–paragraphs (b) and (c) not to apply to certain disposals of building society and industrial and provident society shares made on or 4 July 1987. Finance Act 1990 (c. 29,SIF 63:1, 2), s. 54—paras. 1(3), 2. 5, 7(3), 8(1)(b) and (c), 11 to 15, 18, 22 and 23 not to apply to certain building society shares etc. held by collective investment schemes and disposed of on or after 20 March 1990.
C2S.I. 1989 No.469 (in Part III Vol. 5) for modification of para. 8(2) in relation to pooling of personal equity plan investments.