6(1)In each of the provisions of the Taxes Act 1988 listed in sub-paragraph (2) below, for “quoted” (wherever occurring) there shall be substituted “ listed ”.U.K.
(2)The provisions referred to in sub-paragraph (1) above are—
[F1(a)paragraph (b) of the definition of “quoted Eurobond” in section 124(6);]
(b)section 209(2)(e)(ii);
[F2(c)section 246S(3)(c) and (e);]
(d)section 254(11);
(e)section 349(3A)(b);
(f)section 415(1)(b);
(g)section 477A(1A);
(h)section 576(4);
(j)paragraph 11(a) and (c) of Schedule 9;
(k)paragraph (c) of paragraph 1(5C) of Schedule 18;
(l)paragraph 5 of Schedule 20; and
(m)paragraph 13(2)(c) of Schedule 25.
[F1(3)So far as relating to the provision mentioned in sub-paragraph (2)(a) above, sub-paragraph (1) above has effect in relation to any interest paid on a quoted Eurobond on or after 1st April 1996.]
(4)So far as relating to the provision mentioned in sub-paragraph (2)(b) above, sub-paragraph (1) above has effect in relation to any interest paid or other distribution made on or after 1st April 1996.
(5)So far as relating to the provisions mentioned in sub-paragraph [F3(2)(c) and](m) above, sub-paragraph (1) above has effect in relation to accounting periods ending on or after 1st April 1996.
(6)So far as relating to the provision mentioned in sub-paragraph (2)(d) above, sub-paragraph (1) above has effect in relation to securities issued on or after 1st April 1996.
(7)So far as relating to the provisions mentioned in sub-paragraph (2)(e) and (g) above, sub-paragraph (1) above has effect in relation to dividends or interest which become payable on or after 1st April 1996.
(8)So far as relating to the provision mentioned in sub-paragraph (2)(f) above, sub-paragraph (1) above has effect in relation to periods of 12 months ending on or after 1st April 1996.
(9)So far as relating to the provision mentioned in sub-paragraph (2)(h) above, sub-paragraph (1) above has effect in relation to relevant periods ending on or after 1st April 1996.
(10)So far as relating to the provisions mentioned in sub-paragraph (2)(j) and (k) above, sub-paragraph (1) above has effect in relation to any time falling on or after 1st April 1996.
(11)So far as relating to the provision mentioned in sub-paragraph (2)(l) above, sub-paragraph (1) above has effect in relation to chargeable periods ending on or after 1st April 1996.
Textual Amendments
F1Sch. 38 para. 6(2)(a)(3) repealed (28.7.2000 with effect as mentioned in Sch. 40 Pt. II(17) Note 2 of the amending Act) by 2000 c. 17, s. 156, Sch. 40 Pt. II(17)
F2Sch. 38 para. 6(2)(c) repealed (31.7.1997 with effect in accordance with s. 36, Sch. 6 of the amending Act) by 1997 c. 58, s. 52, Sch. 8 Pt. II(11), Note
F3Words in Sch. 38 para. 6(5) repealed (31.7.1997 with effect in accordance with s. 36, Sch. 6 of the amending Act) by 1997 c. 58, s. 52, Sch. 8 Pt. II(11), Note
7(1)In each of the provisions of that Act listed in sub-paragraph (2) below, for “quoted on” there shall be substituted “ listed in the Official List of ”.U.K.
(2)The provisions referred to in sub-paragraph (1) above are—
(a)paragraph (b) of the definition of “preference shares” in section 210(4);
(b)section 842(1)(c); and
(c)section 842AA(2)(e).
(3)Sub-paragraph (1) above, so far as relating to the provision mentioned in sub-paragraph (2)(a) above, has effect in relation to share capital repaid on or after 1st April 1996.
(4)Sub-paragraph (1) above, so far as relating to the provisions mentioned in sub-paragraph (2)(b) and (c) above, has effect in relation to accounting periods ending on or after 1st April 1996.
8(1)In section 251(5) of that Act (application of section 272(3) of the M1Taxation of Chargeable Gains Act 1992), for “listed” there shall be substituted “ quoted ”.U.K.
(2)This paragraph has effect where the relevant date falls on or after 1st April 1996.
Marginal Citations
9(1)In section 735(3) of that Act (meaning of the “appropriate proportion”)—U.K.
(a)after “the appropriate proportion” there shall be inserted “ , in relation to securities listed in the Official List of the Stock Exchange, ”;
(b)in paragraph (a), for “first listed in The Stock Exchange Daily Official List at a price excluding the value of” there shall be substituted “ , in accordance with announcements made by The Stock Exchange, first to be dealt in without carrying rights to ”; and
(c)in paragraph (b), for “quoted in that List at a price excluding the value of” there shall be substituted “ , in accordance with such announcements, first to be dealt in without carrying rights to ”.
(2)In section 735(4) of that Act (application of section 753(3) to securities purchased before their first interest payment), for “quoted” there shall be substituted “ to be dealt in ”.
(3)In section 735(5) of that Act (application of section 735(3) to securities not listed in the Stock Exchange Daily Official List)—
(a)for “Stock Exchange Daily Official List” there shall be substituted “ Official List of The Stock Exchange ”; and
(b)after “shall have effect” there shall be inserted “ as it has effect in relation to securities which are so listed but ”.
(4)This paragraph has effect in relation to cases where the first buyer purchases securities on or after 1st April 1996.