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 [F1 Financial Services and Markets Act 2000]), or in relation to such of those exchanges as may be prescribed.

Textual Amendments

F1 Words in s. 841(3) substituted (1.12.2001) by Financial Services and Markets Act 2000 (c. 8), s. 431(2), Sch. 20 para. 4(6); S.I. 2001/3538, art. 2(1)

Marginal Citations

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