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Changes over time for: Part II
Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Version Superseded: 06/03/1992
Status:
Point in time view as at 01/02/1991.
Changes to legislation:
There are currently no known outstanding effects for the Finance Act 1987, Part II.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
Part IIU.K. Income Tax, Corporation Tax and Capital Gains Tax
Chapter IU.K. General
20–39. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . U.K.
40 Unit trusts: miscellaneous amendments.U.K.
(1)(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)In section 92 of the Capital Gains Tax Act 1979, for the words from the beginning of the section to the end of paragraph (a) there shall be substituted—
“(1)Subject to subsection (2) below, in this Act—
(a)“unit trust scheme” has the same meaning as in the Financial Services Act 1986”.
(4)At the end of section 92 of the Capital Gains Tax Act 1979 there shall be added—
“(2)The Treasury may by regulations provide that any scheme of a description specified in the regulations shall be treated as not being a unit trust scheme for the purposes of this Act.
(3)Regulations under this section—
(a)may contain such supplementary and transitional provisions as appear to the Treasury to be necessary or expedient, and
(b)shall be made by statutory instrument, which shall be subject to annulment in pursuance of a resolution of the House of Commons.”.
(5)This section, and the repeals effected by section 72 below and Part VI of Schedule 16 to this Act, shall come into force on such day as the Board may by order appoint; and different days may be appointed for different purposes.
(6)An order under subsection (5) above—
(a)may contain such transitional provisions as appear to the Board to be necessary or expedient, and
(b)shall be made by statutory instrument.
Textual Amendments
Modifications etc. (not altering text)
Marginal Citations
41–46. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . U.K.
Chapter IIU.K.
47. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . U.K.
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