ihta84/sch8/para17.- The Finance Act 1980

Section 276

1980 c.48.

17.-(1) Section 52 of the Finance Act 1980 shall be amended as follows.

(2) In subsection (1)-

(a) for the words "a direction has effect under section 93 of the Finance Act 1982" there shall be substituted the words "a direction has effect under paragraph 1 of Schedule 4 to the Capital Transfer Tax Act 1984";

(b) in paragraph (a) for the words "subsection (3) of that section" there shall be substituted the words "sub-paragraph (1) of the paragraph 3 of that Schedule"; and

(c) in paragraph (b) for the words "that subsection" there shall be substituted the words "that sub-paragraph".

(3) In subsections (2) and (3) for the words "subsection (3)(a)(i) or (ii) of the said section 93" there shall be substituted the words "sub-paragraph (1)(a)(i) or (ii) of the said paragraph 3".

(4) In subsection (7)-

(a) in paragraph (a) for the words from "paragraph 3(1)" to "paragraph 3(4)" there shall be substituted the words "paragraph 9(1) of Schedule 4 to the Capital Transfer Tax Act 1984 there is (or, but for paragraph 9(4)"; and

(b) in paragraph (b) for the words "section 93 of that Act" there shall be substituted the words "paragraph 1 of that Schedule".