Stock Lending: Power to Modify Rules

Part of New clause 8 – in the House of Commons at 4:20 pm on 3 April 1995.

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'.—(1) In subsection (1) of section 129 of the Taxes Act 1988 (description of stock lending arrangements)—

  1. (a) for "subsection (4)" there shall be substituted "subsections (2B) and (4)"; and
  2. (b) the words "has contracted to sell securities, and to enable him to fulfil the contract, he" shall be omitted.