SCHEDULE 9 Exemptions
Part II The Groups
F1GROUP 15—INVESTMENT GOLD
Notes:
(1)
For the purposes of this Group “investment gold” means—
(a)
gold of a purity not less than 995 thousandths that is in the form of a bar, or a wafer, of a weight accepted by the bullion markets;
(b)
a gold coin minted after 1800 that—
(i)
is of a purity of not less than 900 thousandths,
(ii)
is, or has been, legal tender in its country of origin, and
(iii)
is of a description of coin that is normally sold at a price that does not exceed 180% of the open market value of the gold contained in the coin; or
(c)
a gold coin of a description specified in a notice that has been published by the Commissioners for the purposes of this Group and has not been withdrawn.
(2)
A notice under Note (1)(c) may provide that a description specified in the notice has effect only for the purposes of supplies made at times falling within a period specified in the notice.
(3)
Item 2 does not include—
(a)
the grant of an option, or
(b)
the assignment or surrender of a right under an option at a time before the option is exercised.
(4)
This Group does not include a supply—
(a)
between members of the London Bullion Market Association, or
(b)
by a member of that Association to a taxable person who is not a member or by such a person to a member.