Part IIIncome Tax, Corporation Tax and Capital Gains Tax

Chapter IGeneral

Business expansion scheme

43Films

1

In paragraph 6 of Schedule 5 to the [1983 c. 28.] Finance Act 1983 (qualifying trades), for paragraphs (a) and (b) of sub-paragraph (2A) there shall be substituted—

a

the company carrying on the trade is engaged throughout the relevant period in—

i

the production of films, or

ii

the production of films and the distribution of films produced by it in the relevant period; and

b

all royalties and licence fees received by it in that period are in respect of films produced by it in that period or sound recordings in relation to such films or other products arising from such films.

2

This section shall have effect in relation to shares issued on or after 17th March 1987.