66 Repeal of obsolete anti-avoidance provisions
Finance Act 2008 (2008 c 9) | Legislation

66  Repeal of obsolete anti-avoidance provisions

(1)     In Part 17 of ICTA (tax avoidance)—

(a)     in section 704 (cancellation of corporation tax advantages: the prescribed circumstances), omit—

(i)     paragraph B (and the “OR” after it), and

(ii)     in paragraph C(1), paragraph (b) (and the “or” before it),

(b)     in section 709 (definitions), omit subsection (2A),

(c)     omit sections 731 to 735 (purchase and sale of securities), and

(d)     omit section 736 (company dealing in securities: distribution materially reducing value of holding).

(2)     In Part 13 of ITA 2007 (tax avoidance)—

(a)     in section 684(2) (person liable to counteraction of income tax advantage), omit the entry relating

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