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Changes over time for: Paragraph 15


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 15/09/2016.
Changes to legislation:
Taxation of Chargeable Gains Act 1992, Paragraph 15 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.

Changes to Legislation
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[[15(1)Where at any time in the relevant period an investment-linked loan is made by any person to an individual who subscribes for eligible shares (“the shares") in a company, the shares shall be treated for the purposes of this Schedule—U.K.
(a)if the loan is made on or before the date of the issue of the shares, as never having been eligible shares; and
(b)if the loan is made after that date, as ceasing to be eligible shares on the date when the loan is made.
(2)A loan made by any person to an individual is an investment-linked loan for the purposes of this paragraph if the loan is one which would not have been made, or would not have been made on the same terms, if the individual had not subscribed for the shares or had not been proposing to do so.
(3)References in this paragraph to the making by any person of a loan to an individual include references—
(a)to the giving by that person of any credit to that individual; and
(b)to the assignment or assignation to that person of any debt due from that individual.
(4)In this paragraph any reference to an individual includes a reference to an associate of his.]]
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