Part II Income Tax, Corporation Tax and Capital Gains Tax

Chapter I General

Chargeable gains

85 Personal equity plans.

After subsection (3) of section 151 of the Taxation of Chargeable Gains Act 1992 (personal equity plans) there shall be inserted the following subsection—

4

Regulations under this section may include provision which, for cases where a person subscribes to a plan by transferring or renouncing shares or rights to shares—

a

modifies the effect of this Act in relation to their acquisition and their transfer or renunciation; and

b

makes consequential modifications of the effect of this Act in relation to anything which (apart from the regulations) would have been regarded on or after their acquisition as an indistinguishable part of the same asset.