Part 6Exempt income
Chapter 6Income from FOTRA securities
716Restriction on deductions etc. relating to FOTRA securities
(1)
A person who meets conditions A and B may not bring into account for income tax purposes—
(a)
any amount relating to changes in the value of a FOTRA security, or
(b)
expenses related to holding it or to any transaction concerning it.
(2)
Condition A is that the person is the beneficial owner of the security.
(3)
Condition B is that the person is a person who would be exempt from tax on the security under this Chapter.