SCHEDULES

SCHEDULE 18Securities: Other Provisions

Miscellaneous

9

1

The Board may by regulations—

a

substitute for section 477(3) of the Taxes Act a provision that section 477(1) shall not apply to such persons and in such circumstances as are specified in the substituted provision;

b

substitute for section 21(1) of the [1970 c. 9.] Taxes Management Act 1970 a provision that the Board may exercise the powers conferred by section 21 in such circumstances as are specified in the substituted provision;

c

make such incidental and consequential provisions (which may include the amendment of other provisions of section 477 or section 21) as appear to the Board to be appropriate.

2

So far as they relate to section 477, the regulations shall apply where the contract for the sale of securities is made on or after such day, after the day of The Stock Exchange reforms, as is specified in the regulations.

3

So far as they relate to section 21, the regulations shall apply in relation to transactions effected on or after such day, after the day of The Stock Exchange reforms, as is specified in the regulations.