|
|
Amendment of section 93 (relevant business property) of Principal Act.
|
78.—(1) Section 93 of the Principal Act is amended by substituting the following for subsection (4):
|
|
| |
“(4) Subsection (3) shall not apply to shares in or securities of a company if—
|
|
| |
(a) the business of the company consists wholly or mainly in being a holding company of one or more companies whose business does not fall within that subsection, or
|
|
| |
(b) the value of those shares or securities, without having regard to the provisions of section 99, is wholly or mainly attributable, directly or indirectly, to businesses that do not fall within that subsection.”.
|
|
| |
(2) This section has effect in relation to gifts or inheritances taken on or after the date of the passing of this Act.
|
