Finance Act, 1993
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Construction of certain references in section 16 of Principal Act for purposes of “specified amount” in section 90 of Finance Act, 1989. |
127.—(1) For the purpose of paragraph (a) of the definition of “specified amount” in subsection (1) of section 90 of the Finance Act, 1989 , section 16 of the Principal Act shall have effect as if— | |
(a) the references therein to the donee or successor were references to the person who, for the purposes of section 90 of the Finance Act, 1989 , is the disponer of the specified amount, | ||
(b) the references therein to the time at which a company is controlled were references to the time referred to in the said paragraph, and | ||
(c) the shares referred to in the said paragraph were, at the time referred to therein, the absolute property of the aforesaid disponer. | ||
(2) This section shall apply where the time referred to in paragraph (a) of the definition of “specified amount” in subsection (1) of section 90 of the Finance Act, 1989 , is on or after the 6th day of May, 1993. |