Part 12Accrued income profits
Chapter 2Accrued income profits and losses
Excluded transferors and transferees
646Pension scheme trustees
A person is—
a
an excluded transferor in relation to a transfer of securities by the person, and
b
an excluded transferee in relation to a transfer of securities to the person,
if, were the person to become entitled to interest on the securities, exemption in respect of it would be allowable under section 186 of FA 2004 (exemption for income from investments held for the purposes of a registered pension scheme).