SCHEDULES

SCHEDULE 25Transfers of income streams

Part 4Consequential amendments and repeals

9

1

In ICTA, omit—

a

section 730 (transfers of rights to receive distributions in respect of shares),

b

section 775A (transfers of rights to receive annual payments),

c

section 785A (rent factoring of leases of plant or machinery), and

d

in section 786 (transactions associated with loans or credit)—

i

in subsection (5), “assigns,”, “(without a sale or transfer of the property)” and “assigned,”,

ii

in subsection (5ZA), “assigned,”, and

iii

in subsection (5A), “assigned,”.

2

In ITTOIA 2005, omit—

a

in Chapter 11 of Part 4 (transactions in deposits)—

i

in section 551(2), the words after “of it”, and

ii

in section 552(1), paragraph (e) and the “and” before it, and

b

Chapter 13 of Part 4 (sales of foreign dividend coupons).

3

Omit the following provisions (which relate to the provisions repealed by sub-paragraphs (1) and (2))—

a

in TMA 1970, in section 98, in column 1 of the Table, the entry relating to section 730(8) of ICTA,

b

in ICTA, in section 774E(1), the second sentence,

c

in FA 1996, in Schedule 7, paragraph 23,

d

in FA 2004, section 135,

e

in ITTOIA 2005, in Schedule 1, paragraph 300,

f

in F(No.2)A 2005, in Schedule 7, paragraphs 2 and 4,

g

in FA 2006, in Schedule 6, paragraph 7,

h

in ITA 2007—

i

in section 1016, in Part 3 of the table, the entry relating to section 730(4) of ICTA, and

ii

in Schedule 1, paragraphs 183 and 545, and

i

in CTA 2009, in Schedule 1, paragraphs 214 and 230.

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5

In section 2(13) of ITA 2007, omit the “and” at the end of paragraph (d) and insert at the end

or

f

transfers of income streams (Chapter 5A).

6

Schedule 4 to that Act (index of defined expressions) is amended as follows.

7

After the entry relating to “transfer (in Chapter 2 of Part 13)” insert—

transfer (in Chapter 5A of Part 13)

Section 809AZF(3)

8

After the entry relating to “transferor (in Part 12)” insert—

transfer taking place (in Chapter 5A of Part 13)

Section 809AZF(3)