Finance Act, 1995

Amendment of section 51 (relief for gifts to First Step) of Finance Act, 1993.

67.Section 51 of the Finance Act, 1993 , is hereby amended—

(a) by the substitution in paragraph (a) of subsection (2) of “1st day of June, 1997” for “1st day of June, 1995”, and

(b) in the proviso to subsection (3) by the substitution of the following subparagraph for subparagraphs (iii) and (iv) of paragraph (b):

“(iii) in respect of a gift made at any time in the year ended on the 31st day of May in the year 1994, 1995,1996 or 1997, if, at that time, the aggregate of the net amounts of all gifts to which this section applies made to First Step within that year exceeds £1,500,000.”.