Finance Act, 1991
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Amendment of section 57 (exemption of certain securities) of Capital Acquisitions Tax Act, 1976. |
121.—(1) Section 57 of the Principal Act is hereby amended— | |
(a) in subsection (1) by the substitution of the following definition for the definition of unit trust scheme: | ||
“‘unit trust scheme’ means an authorised unit trust scheme within the meaning of the Unit Trusts Act, 1990 , whose deed expressing the trusts of the scheme restricts the property subject to those trusts to securities.”, | ||
and | ||
(b) in subsection (2) (as amended by section 40 of the Finance Act, 1978 ) by the substitution for “Unit Trusts Act, 1972” of “ Unit Trusts Act, 1990 ”. | ||
(2) This section shall have effect in relation to gifts and inheritances taken on or after the 26th day of December, 1990. |