Finance Act, 1994
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Amendment of section 29 (taxation of income deemed to arise on certain sales of securities) of Finance Act, 1984. |
26.—As respects any chargeable period (within the meaning of section 17 of the Finance Act, 1993 ) beginning on or after the 1st day of January, 1994, section 29 of the Finance Act, 1984 , is hereby amended in subsection (2A) (inserted by section 27 of the Finance Act, 1991 ) by the insertion after paragraph (b) of the following paragraph: | |
“(bb) if— | ||
(i) the owner is an undertaking for collective investment within the meaning of section 17 of the Finance Act, 1993 , and | ||
(ii) any gain or loss accruing to the owner on the sale or transfer is a chargeable gain or an allowable loss, as the case may be, or”. |