Modifications etc. (not altering text)
C1Sch. 4 modified (27.7.1993) by 1993 c. 34, s. 64(2)
17(1)Where on the disposal by trustees of a deep discount security an amount is treated as income chargeable to tax by virtue of paragraph 4(1) above, the rate at which it is chargeable shall be [F1the rate applicable to trusts] for the year of assessment in which the disposal is made.
(2)Where the trustees are trustees of a scheme to which section 469 applies, sub-paragraph (1) above shall not apply if or to the extent that the amount is treated as income in the accounts of the scheme.
(3)Sub-paragraph (1) above shall not apply unless the disposal is made on or after 14th March 1989.
Textual Amendments
F1Words in Sch. 4 para. 17(1) substituted (27.7.1993 with effect for the year 1993-1994 and subsequent years of assessment) by 1993 c. 34, s. 79, Sch. 6 paras.18, 25(1)