SCHEDULES
SCHEDULE 15 Loan relationships: savings and transitional provisions
Part I Corporation tax
General savings for the taxation of chargeable gains
7
The amendments of the 1992 Act contained in Schedule 14 to this Act and the related repeals made by this Act—
a
so far as they relate to section 253 of the 1992 Act, do not apply to any loan the outstanding amount of principal on which became irrecoverable before 1st April 1996;
b
so far as they relate to section 254 of the 1992 Act, do not apply to any security whose value became negligible before 1st April 1996;
c
so far as they relate to anything else, do not apply in relation to any disposal made, or deemed to be made, before 1st April 1996.