SCHEDULES

SCHEDULE 2Transitionals and savings

Part 12Manufactured payments and repos

Tax credits: stock lending arrangements and repos

109

(1)

Section 592(3) does not apply if the qualifying distribution was received by the borrower before the relevant date.

(2)

The relevant date is—

(a)

if the borrower is an individual, 6 November 2003, and

(b)

if the borrower is not an individual, 17 March 2004.