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Finance Act 2004

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Changes over time for: Paragraph 4

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Version Superseded: 01/12/2009

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Point in time view as at 06/04/2007.

Changes to legislation:

Finance Act 2004, Paragraph 4 is up to date with all changes known to be in force on or before 04 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

4(1)Section 757 of that Act (disposal of material interests in offshore funds) is amended as follows.U.K.

(2)In subsection (1)(b) for the words from “the company or unit trust scheme” to the end substitute “ the interest was a material interest in a non-qualifying offshore fund ”.

(3)In subsection (5)—

(a)for the words from “if the company that is company A” to the end of the first sentence substitute to the extent that—

(a)the interest in the entity that is company A for the purposes of that section that is exchanged is or was at a material time an interest in a non-qualifying offshore fund, and

(b)the interest in the entity that is company B for those purposes that is exchanged is not an interest in such a fund.;

(b)in the second sentence, for the words in brackets substitute “ (of interests in or of an entity that are or were at a material time interests in a non-qualifying offshore fund) ”.

(4)In subsection (6)—

(a)for the words from “so as to require persons” to the end of the first sentence substitute to the extent that—

(a)the interest in the entity that is company A for the purposes of that section that is exchanged is or was at a material time an interest in a non-qualifying offshore fund, and

(b)the interest in the entity that is company B for those purposes that is exchanged is not an interest in such a fund.;

(b)in the second sentence, for the words in brackets substitute “ (of interests in or of an entity that are or were at a material time interests in a non-qualifying offshore fund) ”.

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