SCHEDULES

SCHEDULE 2Transitionals and savings

Part 12Manufactured payments and repos

Deemed manufactured payments: repos

114

1

Section 602 does not apply if—

a

the securities are UK shares or UK securities, and

b

the agreement to sell them was entered into by the original owner before 1 May 1995.

2

Section 602 does not apply if—

a

the securities are overseas securities, and

b

the agreement to sell them was entered into by the original owner before 6 November 1996.