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There are currently no known outstanding effects for the The Individual Savings Account Regulations 1998, Section 34A.
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34A. For the purposes of capital gains tax—
(a)on the occasion when title to an administration-period investment is transferred from the personal representatives to a legatee, the legatee is to be treated as having acquired the investment on the date of transfer and for a consideration equal to its market value on such date; and
(b)on the occasion when title to an investment is transferred from the personal representatives to a legatee after the end of the period in respect of which it was an administration-period investment, there shall be deemed to be a disposal and reacquisition by the personal representatives of that investment at the end of that period and for a consideration equal to its market value at such time and the legatee is to be treated as having acquired the investment for such consideration on the date of transfer.]
Textual Amendments
F1Reg. 34A inserted (6.4.2018) by The Individual Savings Account (Amendment No. 3) Regulations 2017 (S.I. 2017/1089), regs. 1, 9
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