Commentary on Sections Overview Section 1280: Section 1279: supplementary provision
3279.This section sets out the three different classes of United Kingdom Government securities exempt in the hands of non-UK residents (FOTRA securities) and defines the term “the exemption condition” and “gilt-edged security” used in this section. It is based on section 154(8) of FA 1996 and section 161 of FA 1998. The corresponding rule for income tax is in section 713 of ITTOIA.