fa76/s131.- Finance Act 1976 Section 131 Inter-American Development Bank.

131. - (1) The following provisions of this section shall have effect on the United Kingdom's becoming a member of the Inter-American Development Bank ("the Bank").

(2) [A security issued by the Inter-American Development Bank ¹ ] shall be taken for the purposes of [inheritance tax ² ] and capital gains tax to be situated outside the United Kingdom.

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1 1988(T) Sch.29, para.32 with effect from 6 April 1988. Originally: "A person not resident in the United Kingdom shall not be liable to income tax in respect of income from any security issued by the Bank if he would not be liable but for the fact that - (a) the security or income is issued, made payable or paid in the United Kingdom or in sterling; or (b)the Bank maintains an office or other place of business in United Kingdom; and such a security"

2 See 1986 s.100(1) and (2) - for any liability to tax arising on and after 25 July 1986 any reference in the legislation to capital transfer tax has effect as a reference to inheritance tax.