SCHEDULES
SCHEDULE 38 Quotation or listing of securities
The Inheritance Tax Act 1984
2
1
For the second and the last occurrences of the word “quoted” in each of—
a
sections 105(1ZA) and 113A(3B) of the M1Inheritance Tax Act 1984 (meaning of “quoted” etc.), and
b
the paragraph in section 272 of that Act (general interpretation) which defines “quoted” and “unquoted”,
there shall be substituted “
listed
”
.
2
This paragraph has effect—
a
in relation to transfers of value on or after 1st April 1996; and
b
for the purposes of any charge to tax by reason of an event occurring on or after 1st April 1996, in relation to transfers of value before that date.
3
1
In section 180(3) of that Act (whether two investments are of the same description), for “quoted” there shall be substituted “
listed
”
.
2
This paragraph has effect in relation to any time falling on or after 1st April 1996.
4
1
In section 178(2) of that Act (shares or investments whose quotation is suspended at time of death)—
a
for “quotation” there shall be substituted “
listing
”
; and
b
for “quoted” there shall be substituted “
so listed or dealt in
”
.
2
In section 186B(1) of that Act (shares or investments whose quotation is suspended at the end of the relevant period), for “quotation” there shall be substituted “
listing
”
.
3
This paragraph has effect in relation to investments sold, or treated as sold, on or after 1st April 1996.
5
1
In each of sections 227(1AA) and 228(5) of that Act (meaning of “unquoted”), for the word “quoted” there shall be substituted “
listed
”
.
2
This paragraph has effect—
a
in relation to transfers of value on or after 1st April 1996; and
b
for the purposes of any charge to tax by reason of an event occurring on or after 1st April 1996, in relation to transfers of value before that date.