Income and Corporation Taxes Act 1988

841 Recognised stock exchange and recognised investment exchanges. U.K.

M1 (1) In the Tax Acts “recognised stock exchange” means—

(a) the Stock Exchange; and

(b) any such stock exchange outside the United Kingdom as is for the time being designated for the purposes of this section as a recognised stock exchange by order made by the Board.

(2) An order made by the Board under this section—

(a) may designate a stock exchange by name, or by reference to any class or description of stock exchanges including a class or description framed by reference to any authority or approval given in a country outside the United Kingdom;

(b) may contain such transitional and other supplemental provisions as appear to the Board to be necessary or expedient;

(c) may be varied or revoked by a subsequent order so made.

(3) The Board may by regulations make provision securing that enactments in the Tax Acts containing references to the Stock Exchange have effect, for such purposes and subject to such modifications as may be prescribed by the regulations, in relation to all other recognised investment exchanges (within the meaning of the M2 Financial Services Act 1986), or in relation to such of those exchanges as may be prescribed.

Modifications etc. (not altering text)

C1 Definition applied for purposes of:—1979(C) s.155(1)—capital gains tax.The Occupational Pensions Schemes (Transitional Provisions) Regulations 1988 (S.I.1988 No.1436—in Part III Vol.5).The Personal Equity Plan Regulations 1989 (S.I. 1989 No.469—in Part III Vol.5).The Retirement Benefits Schemes (Tax Relief on Contributions) (Disapplication of Earnings Cap) Regns. 1990 (S.I.1990 No.586—in Part III Vol.5).

Marginal Citations

M1 Source—1970 s.535; 1973 Sch.21 9; 1987 (No.2) s.73

M2 1986 c. 60.