- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (28/12/2007)
- Gwreiddiol (Fel y'i Deddfwyd)
Version Superseded: 01/04/2010
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Taxation of Chargeable Gains Act 1992, Section 273 is up to date with all changes known to be in force on or before 16 August 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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(1)The provisions of subsection (3) below shall have effect in any case where, in relation to an asset to which this section applies, there falls to be determined by virtue of section 272(1) the price which the asset might reasonably be expected to fetch on a sale in the open market.
(2)The assets to which this section applies are shares and securities which are not [F1listed] on a recognised stock exchange at the time as at which their market value for the purposes of tax on chargeable gains falls to be determined.
(3)For the purposes of a determination falling within subsection (1) above, it shall be assumed that, in the open market which is postulated for the purposes of that determination, there is available to any prospective purchaser of the asset in question all the information which a prudent prospective purchaser of the asset might reasonably require if he were proposing to purchase it from a willing vendor by private treaty and at arm’s length.
Textual Amendments
F1Word in s. 273(2) substituted (19.7.2007) by Finance Act 2007 (c. 11), Sch. 26 para. 8(5)
Modifications etc. (not altering text)
C1S. 273(3) applied (27.7.1993) by 1993 c. 37, s. 12, Sch. 2 Pt. I para. 24(6)
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