[263B Stock lending arrangements]
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

[263B  Stock lending arrangements]

[(1)     In this section “stock lending arrangement” means so much of any arrangements between two persons (“the borrower” and “the lender”) as are arrangements under which—

(a)     the lender transfers securities to the borrower otherwise than by way of sale; and

(b)     a requirement is imposed on the borrower to transfer those securities back to the lender otherwise than by way of sale.

(2)     Subject to the following provisions of this section and [sections 263C(2) and 263CA(3) and (5)], the disposals and acquisitions made in pursuance of any stock lending arrangement shall be disregarded for the purposes of capital gains tax.

(3)     Where—

(a)     the borrower under any stock lending arrangement disposes of any securities transferred to him under the arrangement,

(b)     that disposal is made otherwise

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