[F1[F26(1)Subject to sub-paragraph (2) below, section 306 of the Taxes Act shall apply in relation to a claim under this Schedule in respect of [F3the relevant shares] as it applies in relation to a claim for relief under Chapter III of Part VII of that Act in respect of eligible shares.U.K.
(2)That section, as it so applies, shall have effect as if—
(a)any reference to the conditions for the relief were a reference to the conditions for the application of this Schedule;
(b)in subsection (1), the words “(or treated by section 289B(5) as so issued)" were omitted; and
(c)subsections (7) to (9) were omitted.]]
Textual Amendments
F1Sch. 5B inserted (with effect in accordance with Sch. 13 para. 4(4) of the amending Act) by Finance Act 1995 (c. 4), Sch. 13 para. 4(3)
F2Sch. 5B para. 6 and cross-heading substituted (with effect in accordance with s. 74(3) of the amending Act) by Finance Act 1998 (c. 36), Sch. 13 para. 33
F3Words in Sch. 5B para. 6(1) substituted (with effect in accordance with s. 73(2) of the amending Act) by Finance Act 1999 (c. 16), Sch. 8 para. 4(h)