(1) Chapter 1A of Part 27 of the Principal Act is amended -
(a) in section 739B -
(i) in subsection (1) -
(I) in the definition of "chargeable event" -
(A) by the deletion in paragraph (b) of "other than a payment made on the death of a unit holder",
(B) by the deletion in paragraph (c) of "(other than as a result of the death of the unit holder)", and
(C) by the substitution for paragraphs (A) and (B) of the following:
"(I) any exchange by a unit holder, effected by way of a bargain made at arm's length by an investment undertaking which is an umbrella scheme, of units in a sub-fund of the investment undertaking, for units in another sub-fund of the investment undertaking,
(II) any exchange by a unit holder, effected by way of a bargain made at arm's length by an investment undertaking, of units in the investment undertaking for other units in the investment undertaking,
(III) any transaction in relation to, or in respect of, units which are held in a recognised clearing system, and
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