SCHEDULES

SCHEDULE 10Transfer of assets abroad

PART 2New exemption for genuine transactions etc

2

(1)

Section 718 (meaning of “person abroad” etc) is amended as follows.

(2)

For subsection (1) substitute—

“(1)

In this Chapter “person abroad” means—

(a)

a person who is resident outside the United Kingdom, or

(b)

an individual who is domiciled outside the United Kingdom.”

(3)

Omit subsection (2)(a).