Related Commentary  Related HMRC Manuals

1280(1)  In this section and section 1279 “FOTRA security” means–

(a)a security issued with a condition about exemption from taxation authorised by section 22 of F(No. 2)A 1931,

(b)a gilt-edged security which was issued before 6th April 1998 and without any such condition (other than 31/2% War Loan 1952 Or After), or

(c)31/2% War Loan 1952 Or After.

1280(2)  In section 1279 “the exemption condition” has the meaning given by subsections (3) to (5), according to the kind of FOTRA security involved.

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