Schedule 2: Transitionals and savings etc. Part 5: Savings and investment income: general Paragraphs 82 and 83: Profits from deeply discounted securities: saving for charities’ losses and Profits from deeply discounted securities: saving for pension trustees’ losses
3565.These two provisions rewrite paragraph 7(1) and (3) of Schedule 13 to FA 1996. These sub-paragraphs deal with losses on deeply discounted securities incurred by charities and pension trustees where the securities have been held since 26 March 2003 and are listed on a recognised stock exchange. Because these provisions are likely to be of extremely limited application they have been relegated from Chapter 8 of Part 4 of this Act (deeply discounted securities) of this Schedule.