Point in time view as at 15/09/2016.
Taxation of Chargeable Gains Act 1992, Section 149 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.
(1)This section applies where on or after 25th July 1991 (the day on which the M1Finance Act 1991 was passed) a building society confers—
(a)on its members, or
(b)on any particular class or description of its members,
any rights to acquire, in priority to other persons, shares in the society which are qualifying shares.
(2)Any such right so conferred shall be regarded for the purposes of capital gains tax as an option granted to, and acquired by, the member concerned for no consideration and having no value at the time of that grant and acquisition.
(3)In this section—
“member” includes a former member, and
“” has the same meaning as in section 117(4).
Marginal Citations
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