SCHEDULES

SCHEDULE 2Transitionals and savings etc.

Part 5Savings and investment income: general

Deeply discounted securities: saving for pension trustees' losses

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The references in section 454(4) and (5) to trustees include any person who, had the loss been a profit, would have been eligible for relief from tax for the tax year in which the loss is sustained as a result of—

a

section 592(2) of ICTA (exemption from income tax for income from investments or deposit held for exempt approved pension schemes),

b

section 608(2)(a) of ICTA (corresponding exemption for superannuation funds approved before 6th April 1980),

c

section 613(4) of ICTA (corresponding exemption for parliamentary pension funds),

d

section 614(2), (3), (4) or (5) of ICTA (corresponding exemption for certain overseas pension funds),

e

section 620(6) of ICTA (corresponding exemption for retirement annuity funds), or

f

section 643(2) of ICTA (corresponding exemption for approved personal pension schemes).