SCHEDULES

SCHEDULE 26Meaning of "recognised stock exchange" etc

Valuation of shares listed on recognised stock exchange for purposes of TCGA 1992 etc

5

1

In ITTOIA 2005, for sections 450 and 451 substitute—

450Market value of strips etc

1

The Treasury may make regulations as to the manner for determining—

a

the market value at any time of a strip for the purposes of this Chapter, and

b

the market value at any time of a security exchanged for strips of that security for the purposes of section 445(1).

2

The regulations may—

a

make different provision for different cases, and

b

contain incidental, supplemental, consequential and transitional provision and savings.

2

The amendment made by sub-paragraph (1) has effect where the date of valuation falls on or after such day as may be appointed by the Treasury by order; and different days may be appointed for different purposes.