[F17(1)Paragraph 14 of Schedule 6 to the Taxation of Chargeable Gains Act 1992 shall be amended as follows.U.K.
(2)In subparagraph (2), the word “original” shall be inserted before “ qualifying period ”.
(3)The following subparagraphs shall be inserted at the end:
“(7)In relation to the expression “the original qualifying period”, the questions whether a disposal is a qualifying disposal and whether the period relating to that disposal is a qualifying period shall be determined without regard to the requirement that the length of the period be at least one year.
(8)This paragraph shall not apply if the extended qualifying period resulting from the operation of subparagraphs (1) to (7) would be a period of less than one year.”
(4)The amendments made by this paragraph shall have effect in relation to disposals made on or after 6th April 1996.]
Textual Amendments
F1Sch. 39 para. 7 repealed (31.7.1998 with effect as mentioned in Sch. 27 Pt. III(31), Note of the amending Act) by 1998 c. 36, s. 165, Sch. 27 Pt. III(31)