PART IIIF2GOVERNMENT SECURITIES
Annotations:
Amendments (Textual)
Government securities: exemptions from tax
49 Stock and dividends in name of Treasury etc.
1
M1No tax shall be chargeable in respect of the stock or dividends transferred to accounts in the books of the Bank of England in the name of the Treasury or the National Debt Commissioners in pursuance of any Act of Parliament, but the Bank of England shall transmit to the Board an account of the total amount thereof.
2
No tax shall be chargeable in respect of the stock or dividends belonging to the Crown, in whatever name they may stand in the books of the Bank of England.
F13
In this section “dividends” means any interest, public annuities, dividends or shares of annuities.
Pt. 3 heading substituted (with effect in accordance with Sch. 7 para. 32 of the amending Act) by Finance Act 1996, s. 79, Sch. 7 para. 6 (with Sch. 7 paras. 33-35)