Regulation 126 | Amendment of ICTA

(1)ICTA is amended as follows.

(2)In section 396(2) (Case VI losses) for “section 761(1)(b)(ii)” substitute “ regulation 18(4) of the Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001) ”.

(3)In section 505(3)(b)(iii) (charitable companies) for “section 761(6) below” substitute “ regulation 31 of the Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001) ”.

(4)In section 587B(9) (gifts of shares, securities and real property to charities etc.), in the definition of “offshore fund”, for “Chapter 5 of Part 17” substitute “ section 40A of the Finance Act 2008 ”.

(5)In section 834A (miscellaneous charges relating to the former Case VI of Schedule D)—

(a)in Part 1 of the Table omit the entry relating to section 761(1)(b)(ii), and

(b)in Part 3 of the Table insert at the end—

(6)In section 842(3A) (meaning of investment trust) for “section 761(1)(a)” substitute “ regulation 18(1) of the Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001) ”.