Commentary on Sections Overview Chapter 2: Accrued income profits and losses Section 652: Securities ceasing to be held on charitable trusts
1931.This section treats trustees as transferring the securities in their capacity as charitable trustees to themselves in another capacity, if securities cease to be held on charitable trusts. It is based on section 715(3) of ICTA.
1932.The transfer treated as made is then a transfer within the appropriate type or types in section 622 for the purposes of the accrued income scheme.