Finance Act, 1997
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Amendment of section 66 (reduced rate of capital gains tax on certain disposals of shares by individuals) of Finance Act, 1994 . |
76.—Section 66 (as amended by section 63 of the Finance Act, 1996 ) of the Finance Act, 1994 , is hereby amended as respects disposals made on or after the 6th day of April, 1997— | |
(a) by the substitution in the definition of “the specified period” in subsection (1) of “3 years” for “5 years”, | ||
(b) by the substitution of the following definition in subsection (1) for the definition of “unquoted company”: | ||
“‘unquoted company’ means a company none of whose shares, stocks or debentures are listed in the official list of a stock exchange or quoted on an unlisted securities market.”, | ||
and | ||
(c) by the substitution in subsection (6) of “26 per cent.” for “27 per cent.”. |