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Changes over time for: Paragraph 8


Timeline of Changes
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Status:
Point in time view as at 20/07/2005.
Changes to legislation:
There are currently no known outstanding effects for the Finance (No. 2) Act 2005, Paragraph 8.

Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
8(1)In section 116(8A) of TCGA 1992 (reorganisations, conversions and reconstructions: application of loan relationships regime in certain cases)—U.K.
(a)after “shall have effect” insert “ , subject to subsection (8B) below, ”, and
(b)for “that subsection” substitute “ subsection (6) above ”.
(2)After that subsection insert—
“(8B)Subsection (8A) above does not apply where the relevant transaction is a conversion of securities occurring in consequence of the operation of the terms of any security or of any debenture which is not a security.
Expressions used in this subsection have the same meaning as they have for the purposes of section 132.”.
(3)These amendments have effect in relation to transactions occurring after 26th May 2005.
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