Related Commentary  Related HMRC Manuals

161(1)  Subject to the following provisions of this section, any gilt-edged security issued before 6th April 1998 without FOTRA conditions shall be treated in relation to times on or after that date as if–

(a)it were a security issued with the post-1996 Act conditions; and

(b)those conditions had been authorised in relation to the issue of that security by virtue of section 22 of the Finance (No. 2) Act 1931.

161(2)  Where a gilt-edged security falls to be treated as mentioned in subsection (1) above that treatment shall have effect–

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