SCHEDULES

SCHEDULE 11

Retirement benefit schemes

14

In a case where—

(a)

paragraph 5 above would apply (apart from this paragraph) to a transferor redemption of a security, and

(b)

immediately before the transfer or redemption was made the security washeld for the purposes of an exempt approved scheme (within the meaning ofChapter I of Part XIV of the Taxes Act 1988),

that paragraph shall not apply to the transfer or redemption.