Treasury consent may be general or special (Section 765 (4)).
The general consents in force until 15 March 1988 are reproduced at
CTM34480. These related to transactions
under all four subheads of subsection (1). They are still relevant
in considering whether transactions before 15 March 1988 were
lawful and in particular whether UK incorporated companies migrated
under the protection of the first general consent.
New general consents relating only to transactions within
subsection (1)(c) and (d) apply from 15 March 1988 and are
reproduced at
CTM34470. The consents are intended to
cover types of transactions that are less likely than others to
lead to a loss of tax.
