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Legislation
Taxation of Chargeable Gains Act 1992

Crossheading Miscellaneous reliefs and exemptions

  • Section 262 Chattel exemption.
  • Section 263 Passenger vehicles.
  • Section 263AZA Renewables obligation certificates for domestic microgeneration
  • Section 263ZA Former employees: employment-related liabilities
  • Section 263A Agreements for sale and repurchase of securities: capital gains tax
  • Section 263AA Section 263A: interpretation
  • Section 263B Stock lending arrangements.
  • Section 263C Stock lending involving redemption.
  • Section 263CA Stock lending: insolvency etc of borrower
  • Section 263D Gains accruing to persons paying manufactured dividends
  • Section 263E Structured finance arrangements
  • Section 263F Power to modify repo provisions: non-standard repo cases
  • Section 263G Power to modify repo provisions: redemption arrangements
  • Section 263H Sections 263F and 263G: supplementary provisions
  • Section 263I Powers about manufactured overseas dividends
  • Section 264 Relief for local constituency associations of political parties on reorganisation of constituencies.
  • Section 265 Designated international organisations.
  • Section 266 Inter-American Development Bank.
  • Section 267 Sharing of transmission facilities.
  • Section 268 Decorations for valour or gallant conduct.
  • Section 268A Victims of National-Socialist persecution
  • Section 268B Compensation for deprivation of foreign assets
  • Section 269 Foreign currency for personal expenditure.
  • Section 270 Chevening Estate.
  • Section 271 Other miscellaneous exemptions.
  1. Miscellaneous reliefs and exemptions
  2. Section 263A: interpretation

Section 263AA | Section 263A: interpretation F1

From legislation.gov.uk

(1)Subsections (2) to (7) apply for the purposes of section 263A.

(2)References to buying back securities include references to—

(a)buying similar securities, and

(b)in the case of a person connected with the person who is the original owner under the repo, buying the securities sold by the original owner or similar securities.

(3)Subsection (2) applies even if the person buying the securities has not held them before.

(4)References to repurchase or a repurchaser are to be read accordingly.

(5)For the purposes of subsection (2) securities are similar if they give their holders—

(a)the same rights against the same persons as to capital and distributions, interest and dividends, and

(b)the same remedies to enforce those rights.

(6)Subsection (5) applies even if there is a difference in—

(a)the total nominal amounts of the securities,

(b)the form in which they are held, or

(c)the manner in which they can be transferred.

(7)Agreements are related if they are entered into in pursuance of the same arrangement (regardless of the date on which either agreement is entered into).

(8)In section 263A and this section “securities” means—

(a)shares in a company wherever resident,

(b)loan stock or other securities of—

(i)the government of the United Kingdom,

(ii)a local authority in the United Kingdom,

(iii)another public authority in the United Kingdom,

(iv)a company resident in the United Kingdom or other body resident in the United Kingdom, or

(c)shares, loan stock, stock or other securities issued by—

(i)a government, local authority or other public authority of a territory outside the United Kingdom, or

(ii)another body of persons not resident in the United Kingdom.

Notes

  1. F1

    S. 263AA inserted (with effect in accordance with Sch. 12 para. 18(1) of the amending Act) by Finance Act 2013 (c. 29), Sch. 12 para. 10

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