Finance Act 2007 (c. 11)

SCHEDULES

SCHEDULE 26 U.K. Meaning of "recognised stock exchange" etc

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

5 (1) In ITTOIA 2005, for sections 450 and 451 substitute— U.K.

“450 Market 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.