Related Commentary  Related HMRC Manuals

97(1)  Where securities are transferred–

(a)to a company which at the time of the transfer falls within subsection (6) of section 70 above and is resident in the United Kingdom, and

(b)from a company which at that time falls within that subsection and is so resident,

subject to section 97C, there shall be no charge to tax under section 96 above in respect of the transfer.

97(2)  [Repealed by FA 1996, s. 196(4), 205 and Sch. 41, Pt. VII.]

97(3)  There shall be no charge to tax under section 96 above in respect of a transfer or issue of a UK bearer instrument, except in the case of–

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