Schedules

Schedule 4Investment vehicles

Part 3Qualifying asset holding companies

14Disposal of derivatives where underlying subject matter is shares

1

In paragraph 53 (no chargeable gain on disposal of overseas land or certain shares), in sub-paragraph (4), at the appropriate place insert—

  • “derivative contract” means—

    1. a

      a derivative contract within the meaning of Part 7 of CTA 2009 (see section 576 of that Act), or

    2. b

      a contract which is not a derivative contract within the meaning of that Part only as a result of section 589(2)(b) of that Act (general exclusion of contracts whose underlying subject matter consists of shares);

2

That paragraph has effect, and is to be deemed always to have had effect, with the amendment made by sub-paragraph (1).