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Finance Act 2011

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Finance Act 2011, Section 50 is up to date with all changes known to be in force on or before 27 February 2025. 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. Help about Changes to Legislation

50Power to make provision about treatment of transactionsU.K.

In Part 13 of CTA 2010 (special types of company etc), after Chapter 3 insert—

CHAPTER 3AU.K.Investment trusts
622APower to make provision about treatment of transactions

(1)The Treasury may by regulations provide that a transaction of a specified kind entered into by an investment trust is to be treated for the purposes of the Corporation Tax Acts as entered into by it otherwise than in the course of a trade.

(2)Regulations under this section—

(a)may make different provision for different cases or purposes, and

(b)may make incidental, consequential, supplementary or transitional provision.

(3)A statutory instrument containing the first regulations under this section may not be made unless a draft of the instrument has been laid before and approved by a resolution of the House of Commons.

(4)Any other statutory instrument containing regulations under this section is subject to annulment in pursuance of a resolution of the House of Commons.

(5)In this section “specified” means specified in regulations under this section.

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