[F1164FG Multiple claims.U.K.
(1)This section applies where—
(a)a reduction is claimed by a person as respects a qualifying investment under subsection (2) of section 164A or subsection (10A) of section 164F; and
(b)any other reduction has been or is being claimed by that person under either subsection as respects that investment.
(2)Subject to subsection (5) below, the reductions shall be treated as claimed separately in such sequence as the claimant elects F2... .
(3)In relation to a later claim as respects the qualifying investment under either subsection, the subsection shall have effect as if each of the relevant amounts were reduced by the aggregate of any reductions made in the amount or value of the consideration for the acquisition of that investment by virtue of any earlier claims as respects that investment.
(4)In subsection (3) above “the relevant amounts” means—
(a)if the claim is under section 164A(2), the amounts referred to in subsection (2)(a)(ii) and (iii) and any amount required to be included by virtue of section 164FF(2); and
(b)if the claim is under section 164F(10A), the amounts referred to in subsection (10A)(a)(i) and (ii) and any amount required to be included by virtue of section 164FF(2).
(5)A claim that has become final shall be treated as made earlier than any claim that has not become final.
(6)For the purposes of subsection (5) above, a claim becomes final when—
(a)it may no longer be amended, or
(b)it is finally determined,
whichever occurs first.]
Textual Amendments
F1S. 164FG inserted (with effect in accordance with s. 47(7) of the amending Act) by Finance Act 1995 (c. 4), s. 47(5)
F2Words in s. 164FG(2) repealed (with effect in accordance with s. 134(2) of the amending Act) by Finance Act 1996 (c. 8), Sch. 20 para. 56, Sch. 41 Pt. V(10)