Finance Act, 1996
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Chapter V Capital Gains Tax | ||
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Amendment of paragraph 11 (disposal of certain assets) of Schedule 4 to Capital Gains Tax Act, 1975. |
59.—Paragraph 11 (inserted by the Finance Act, 1982 ) of Schedule 4 to the Capital Gains Tax Act, 1975 , is hereby amended— | |
(a) in subparagraph (8) by the substitution for “the consideration” of “the amount or value of the consideration, in money or money's worth,”, and | ||
(b) in subparagraph (10A) (inserted by the Finance Act, 1995 ) by the insertion of the following proviso: | ||
“Provided that this subparagraph shall not apply where there is a disposal of an asset by virtue of a capital sum being derived from the asset under a policy of insurance of the risk of any kind of damage to the asset.”. |