Finance Act 1985

4 (1) In this Schedule-

(a) " material disposal of business assets " has the same meaning as in section 69 of this Act;

(b) " employee's disposal" means a disposal falling within subsection (1) of section 70 of this Act;

(c) " trustees' disposal" means a disposal falling within subsection (3) of section 70 of this Act and, in relation to such a disposal, " the qualifying beneficiary " has the meaning assigned to it by paragraph (b) of that subsection;

(d) " associated disposal" has the meaning assigned to it by section 70(7) of this Act;

and " qualifying disposal " means any of the disposals referred to in paragraphs (a) to (d) above.

(2) Any reference in this Schedule to the qualifying period is a reference to the period of at least one year which,—

(a) in relation to a material disposal of business assets, is referred to in subsection (3), subsection (4)(a) or subsection (5) (as the case may require) of section 69 of this Act;

(b) in relation to an employee's disposal, is referred to in section 70(2)(a) of this Act;

(c) in relation to a trustees' disposal, is referred to in subsection (4) or subsection (5) (as the case may require) of section 70 of this Act;

and, in relation to an associated disposal, any reference in this Schedule to the qualifying period is a reference to that period which is the qualifying period in relation to the material disposal of business assets with which the associated disposal is associated in accordance with section 70(7) of this Act.

(3) In relation to a qualifying disposal, any reference in this Schedule to the amount available for relief is a reference to the amount determined in accordance with paragraphs 13 to 16 below.