Amendments to the Child Trust Funds Regulations 2004

12.  In regulation 24 (exemption from tax of account income and gains)—

(a) in sub-paragraph (a)(ii) for “by section 714(2) of the Taxes Act” substitute “under Part 12 of ITA 2007”;

(b) for sub-paragraph (a)(iv) substitute—

“(iv) on a profit on the disposal of a deeply discounted security within the meaning given by section 430 of ITTOIA 2005;”;

(c) in sub-paragraph (a)(v) for “by section 541 of the Taxes Act” substitute “under Chapter 9 of Part 4 of ITTOIA 2005”;

(d) in sub-paragraph (c) for “section 349B(4) of the Taxes Act” substitute “section 935 of ITA 2007”;

(e) in sub-paragraph (d) for the words from “a corresponding” to “Taxes Act” substitute “a deficiency arising in a tax year and falling within section 539(1) of ITTOIA 2005”.