Modifications of section 211 of the Taxation of Chargeable Gains Act 1992
161.—(1) In the heading to regulation 44 (modification of section 211(1) of the 1992 Act)—
(a)for “Modification” substitute “Modifications”;
(b)omit “(1)”.
(2) Amend regulation 44 in accordance with paragraphs (3) and (4) below.
(3) In paragraph (1) for “Paragraph (2) prescribes a modification of section 211(1)” substitute “Paragraphs (2) and (3) prescribe modifications of section 211”.
(4) For paragraph (2) substitute—
“(2) In subsection (1) for the words “where an insurance business transfer scheme has effect to transfer” there shall be substituted the words “where there is a transfer of”.
(3) In subsection (1A) omit the definition of “insurance business transfer scheme”.”.