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.