278 Conditions relating to value of investments: general
Income Tax Act 2007 (2007 c 3) | Legislation

278  Conditions relating to value of investments: general

(1)     This section and section 279 apply for the purposes of the 15% holding limit condition, the [80%] qualifying holdings condition and the [70%] eligible shares condition (“the relevant conditions”).

(2)     The value of a holding of investments of any description is to be taken, unless subsection (3) applies, to be its value when acquired.

(3)     If, in the case of a holding of investments of any description—

(a)     the holding is

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