105 Expenditure on shares.U.K.
(1)In section 120(6) of the Taxation of Chargeable Gains Act 1992 (increase in expenditure by reference to tax charged in relation to shares)—
(a)for the words “section 185(6)” there shall be substituted the words “ the applicable provision ”, and
(b)at the end there shall be inserted “; and in this subsection “the applicable provision” means—
(a)subsection (6) of section 185 of the Taxes Act (as that subsection had effect before the coming into force of section 39(5) of the M1Finance Act 1991), or
(b)subsection (6A) of that section.”
(2)The amendments made by subsection (1) above shall be deemed always to have had effect.
(3)In section 32A(5) of the M2Capital Gains Tax Act 1979 (expenditure: amounts to be included as consideration)—
(a)for the words “section 185(6)” there shall be substituted the words “ the applicable provision ”, and
(b)at the end there shall be inserted “; and in this subsection “the applicable provision” means—
(a)subsection (6) of section 185 of the Taxes Act (as that subsection had effect before the coming into force of section 39(5) of the M3Finance Act 1991), or
(b)subsection (6A) of that section.”
(4)The M4amendments made by subsection (3) above shall be deemed to have come into force on 1st January 1992 (but shall have effect subject to the repeals made by the Taxation of Chargeable Gains Act 1992).