Part 12Accrued income profits
Chapter 2Accrued income profits and losses
Further transactions treated as transfers
652Securities ceasing to be held on charitable trusts
1
This section applies if securities held on charitable trusts cease to be subject to those trusts.
2
The trustees are treated for the purposes of this Chapter as transferring the securities at the time when the securities cease to be so subject.
3
The transfer is treated as being made by the trustees in their capacity as charitable trustees to themselves in another capacity.
4
See sections 623(2) to (4) and 624(2) to (4) for cases where securities are treated as transferred with or without accrued interest where this section applies.