15(1)In this Schedule—U.K.
“deep gain” shall be construed in accordance with paragraph 3(3) above;
“excluded indexed security” has the meaning given by paragraph 13 above;
“market value” (except in paragraph 14 above) has the same meaning as in the M1Taxation of Chargeable Gains Act 1992;
“relevant discounted security” has the meaning given by paragraphs 3 and 14(1) above;
“strip” means anything which, within the meaning of section 47 of the M2Finance Act 1942, [F1is a strip of a security, or would be if that section had effect with the substitution in subsection (1B) of “issued by or on behalf of the government of any territory” for “issued under the National Loans Act 1968].
(2)Where a person, having acquired and transferred any security, subsequently re-acquires it, references in this Schedule to his acquisition of the security shall have effect, in relation to—
(a)the transfer by him of that security, or
(b)the redemption of the security in a case where he becomes entitled to any amount on its redemption,
as references to his most recent acquisition of the security before the transfer or redemption in question.
Textual Amendments
F1Words in Sch. 13 para. 15(1) substituted (with effect in accordance with Sch. 39 para. 6(1)(c) of the amending Act) by Finance Act 2003 (c. 14), Sch. 39 para. 4
Marginal Citations