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Statutory Instruments
TAXES
Made
20th September 2000
Laid before the House of Commons
20th September 2000
Coming into force
11th October 2000
The Treasury, in exercise of the powers conferred on them by section 99(3) of the Taxation of Chargeable Gains Act 1992(1), hereby make the following Regulations:
1. These Regulations may be cited as the Capital Gains Tax (Definition of Unit Trust Scheme) (Amendment) Regulations 2000 and shall come into force on 11th October 2000.
2.—(1) Regulation 3 of the Capital Gains Tax (Definition of Unit Trust Scheme) Regulations 1988(2) is amended as follows.
(2) After paragraph (b) insert
“or
(c)an employee share ownership plan approved under Schedule 8 to the Finance Act 2000(3),”.
Greg Pope
Jim Dowd
Two of the Lords Commissioners of Her Majesty’s Treasury
20th September 2000
(This note is not part of the Regulations)
These Regulations amend the Capital Gains Tax (Definition of Unit Trust Scheme) Regulations 1988 (S.I. 1988/266) so as to provide that an employee share ownership plan approved under Schedule 8 to the Finance Act 2000 (c. 17) is not a unit trust scheme for the purposes of the Taxation of Chargeable Gains Act 1992 (c. 12).
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