39.—(1) CTA 2010 is amended as follows.
(2) In section 1(3) (overview of Act), omit paragraph (h).
(3) In section 486 (exemption for investment income and non-trading profits from loan relationships)—
(a)in subsection (2)(c), for the words from “Chapter 5” to the end substitute “ regulation 15 of the Unauthorised Unit Trusts (Tax) Regulations 2013 as received by a unit holder from an exempt unauthorised unit trust. ”, and
(b)in subsection (4), for the words from “Part 10 of CTA 2009” to the end substitute “ regulation 15 of the Unauthorised Unit Trusts (Tax) Regulations 2013 (see regulation 17 of those regulations as to provisions given priority over that regulation). ”.
(4) Omit Chapter 3 of Part 13 (unauthorised unit trusts).
(5) In section 778(1)(b) (certain payments treated as interest), for the words from “Chapter 5” to the end substitute “ Chapter 7 of Part 10 of CTA 2009 (annual payments not otherwise charged) or regulation 15 of the Unauthorised Unit Trusts (Tax) Regulations 2013. ”.