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Textual Amendments
F1Sch. 7D inserted (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), s. 723, Sch. 6 para. 221 (with Sch. 7)
F2Word in Sch. 7D heading omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 40, 89 (with Sch. 8 paras. 90-96)
Textual Amendments
F3Words in Sch. 7D Pt. 1 heading substituted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 41, 89 (with Sch. 8 paras. 90-96)
Modifications etc. (not altering text)
C1Sch. 7D Pt. 1 applied (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), s. 723, Sch. 2 para. 87 (with Sch. 7)
8(1)Any gain accruing on the disposal of rights under paragraph 77 of Schedule 2 to ITEPA 2003 (power of trustees to raise funds to subscribe for rights issue) is not a chargeable gain.U.K.
(2)Sub-paragraph (1) does not apply to a disposal of rights unless similar rights are conferred in respect of all ordinary shares in the company.]