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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 February 2007 - onwards
    Version 1 of 1    

807B. Certain transitional arrangements in relation to transfer of assets abroad.

(1) In this section -

'new transaction' means a relevant transaction effected on or after the relevant date;

'old transaction' means a relevant transaction effected before the relevant date;

'relevant date' means 1 February 2007;

'relevant transactions' has the meaning assigned to it by section 806(10).

(2) For the purposes of applying subsection (3) of this section and subsections (8) and (10) of section 806 -

(a) if all the relevant transactions are old transactions, section 806(8) shall apply,

(b) if all the relevant transactions are new transactions, section 806(10) shall apply,

(c) if any one or more of the relevant transactions are old transactions and any one or more of the relevant transactions are new transactions, sections 806 and 807A shall apply subject to subsection (3).

(3)

(a) Where -

(i) the conditions in section 806(8) are failed by reference to the old transactions or any of them, or

(ii) the conditions in section 806(10)(b) are failed by reference to the new transact

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