188ÌåÓý

Before April 1996 TCGA92/S288(4) contained the definition of the terms ‘quoted on a stock exchange in the United Kingdom� and ‘quoted on a recognised stock exchange in the United Kingdom�. They were to be taken as references to listing on the Official List of the Stock Exchange (SEDOL), see CG50255. After 26 August 1996 SEDOL no longer necessarily showed a daily quoted price for all shares and securities listed so some shares or securities may now be ‘listed�, but not ‘quoted�, on SEDOL.

In order to accommodate these changes to Stock Exchange practices, a number of provisions in TCGA and in the Tax Acts were amended by Finance Act 1996 so that they referred to a share or security being ‘listed� rather than ‘quoted�. Further detail on these changes is given at CG50275+.

For the meaning of the term ‘recognised stock exchange�, see CG50250 above.