This section has no associated Explanatory Notes
13(1)Section 72 (property leaving employee trusts and newspaper trusts) is amended as follows.U.K.
(2)In subsection (2), after “Subject to subsections” insert “ (3A), ”.
(3)After subsection (3) insert—
“(3A)Where settled property ceases to be property to which this section applies because paragraph (d) of section 86(3) no longer applies, tax is not chargeable under this section by virtue of subsection (2)(a) if the only reason that paragraph no longer applies is that one or both of the trading requirement and the controlling interest requirement mentioned in that paragraph are no longer met with respect to the company so mentioned.”
(4)The amendments made by this paragraph are treated as having come into force on 6 April 2014.