[F13(1)For the purposes of this Schedule a disposal is “for consideration” if consideration is given or received by any person for, or otherwise in connection with, any transaction by virtue of which the disposal is effected.U.K.
(2)In determining for the purposes of this Schedule whether a disposal is for consideration there shall be disregarded any consideration consisting of another interest under the same settlement that has not previously been disposed of by any person for consideration.
(3)In this Schedule “consideration” means actual consideration, as opposed to consideration deemed to be given by any provision of this Act.]
Textual Amendments
F1Sch. 4A inserted (with application in accordance with s. 91(3) of the amending Act) by Finance Act 2000 (c. 17), s. 91(2), Sch. 24