SCHEDULES
SCHEDULE 13Chargeable gains in stock lending: insolvency etc of borrower
2
1
Section 263B (stock lending arrangements) is amended as follows.
2
In subsection (2), for “section 263C(2)” substitute “
sections 263C(2) and 263CA(3) and (5)
”
.
3
In subsection (4)—
a
in paragraph (a), insert at the end “for a consideration equal to their market value at that time”,
b
in paragraph (b), after “at that time” insert “
for that consideration
”
, and
c
insert at the end (not as part of paragraph (c))— “
This subsection does not apply where section 263CA (insolvency of borrower) applies.
”
4
In subsection (7), omit the definition of “interest”.