Taxation of Chargeable Gains Act 1992 Schedule 5AAA paragraph 48

Power to make provision in relation to UK property rich collective investment vehicles etc

Paragraph 48 grants the Treasury broad regulation-making powers in relation to collective investment vehicles that are UK property rich and their investments in UK property rich companies.

• The Treasury may make regulations concerning collective investment vehicles that are UK property rich, or investments made directly or indirectly by such vehicles in UK property rich companies.
• Regulations may amend this Schedule, disapply any provision of the Taxation of Chargeable Gains Act 1992, or modify how any provision of the Act applies.
• Regulations may have retrospective effect, applying to times before they are made.
• Regulations may make different provision for different purposes and include supplementary, incidental, consequential, transitional, or saving provisions.