This is the original version (as it was originally enacted).
8(1)Section 547A of the Taxes Act 1988 is amended as follows.
(2)In subsection (3) (the cases where a person has a relevant interest) in paragraph (a) (which refers to trusts created by an individual) before “trusts” insert “non-charitable”.
(3)In paragraph (b) of that subsection (which refers to trusts created by a company) before “trusts” insert “non-charitable”.
(4)After paragraph (c) of that subsection (personal representatives) insert—
“(cc)in the case of trustees of a charitable trust, if a share in the rights is held by them or as security for a debt owed by them;”.
(5)In paragraph (d) of that subsection (trustees) after “trustees” insert “of a non-charitable trust”.
(6)For the word “or” at the end of sub-paragraph (i) of that paragraph substitute the following sub-paragraph—
“(ia)if a share in the rights is held by them which does not also fall within paragraph (a), (b) or (c) above or sub-paragraph (i) above; or”.
(7)In subsection (6) (rights or share held on trusts created by two or more persons) before “trusts”, where first occurring, insert “non-charitable”.
(8)In subsection (10) (case where different shares of the whole trust property originate from different persons)—
(a)in paragraph (a), before “trusts” insert “non-charitable”; and
(b)in the closing words, before “trusts” insert “non-charitable”.
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