Amendment of the principal Regulations

11.  In Part 4 (payments by way of specific assets not disregarded as payments in kind)—

(a) for paragraph 1 and the heading preceding it substitute—

“Securities

1.   Securities.”;

(b) omit paragraphs 2 to 5;

(c) omit paragraphs 7 and 8; and

(d) in paragraph 11(a) (certificates conferring rights in respect of assets) for “1 to 4” substitute “1”.