Version Superseded: 11/05/2001
Point in time view as at 21/08/1998.
Taxation of Chargeable Gains Act 1992, Cross Heading: Trustees: anti-avoidance is up to date with all changes known to be in force on or before 07 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Textual Amendments
F1Sch. 5B inserted (with effect in accordance with Sch. 13 para. 4(4) of the amending Act) by Finance Act 1995 (c. 4), Sch. 13 para. 4(3)
F2Sch. 5B paras. 16-19 and cross-headings inserted (with effect in accordance with s. 74(3) of the amending Act) by Finance Act 1998 (c. 36), Sch. 13 para. 36
18(1)Paragraphs 13 and 15 above shall have effect in relation to the subscription for shares by the trustees of a settlement as if references to the individual subscribing for the shares were references to—U.K.
(a)those trustees;
(b)any individual or charity by virtue of whose interest, at a relevant time, paragraph 17 above applies to the settled property; or
(c)any associate of such an individual, or any person connected with such a charity.
(2)The relevant times for the purposes of sub-paragraph (1)(b) above are the time when the shares are issued and—
(a)in a case where paragraph 13 above applies, the time when the value is received;
(b)in a case where paragraph 15 above applies, the time when the loan is made.]]
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