Taxation of Chargeable Gains Act 1992 section 151G

Regulations where non-qualifying shares conditions altered

Section 151G gives the Treasury power to amend the chargeable gains legislation by regulation when it changes the conditions that determine whether shares are treated as "non-qualifying shares" under the Corporation Tax Act 2009.

• When the Treasury adds, varies or removes a condition for non-qualifying shares under section 533 of CTA 2009, it may also amend the Taxation of Chargeable Gains Act 1992 to deal with the capital gains tax treatment of any asset or transaction affected by that condition.
• The regulations may make different provision for different cases, allowing tailored treatment depending on the circumstances.
• The regulations may include incidental, supplemental, consequential and transitional provisions, as well as savings to protect existing positions.
• In particular, the consequential and related provisions may amend any existing legislation or any instrument made under legislation.