Write the words of this act the way you think they should read. Solon shows your change as a redline against the published text and pins it to that exact text, so it can never be applied to wording you did not see.
Change 1
As published
123 Abolition of pooling for CGT.
(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3) In subsection (3) of that section (interpretation), for “ “a new holding” is" there shall be substituted “ “a section 104 holding” is ”.
(4) For subsection (4) of that section there shall be substituted the following subsection—
(4) For the purposes of this Chapter securities of a company which are held—
(a) by a person who acquired them as an employee of the company or of any other person, and
(b) on terms which for the time being restrict his right to dispose of them,
shall (notwithstanding that they would otherwise fall to be treated as of the same class) be treated as of a different class from any securities acquired by him otherwise than as an employee of the company or of any other person and also from any shares that are not held subject to restrictions, or the same restrictions, on disposal or in the case of which the restrictions are no longer in force.
(5) In the following enactments for the words “new holding", wherever they occur, there shall be substituted “ section 104 holding ”, namely—
(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b) in sections 104(6), 107 and 110 of the Taxation of Chargeable Gains Act 1992.
(6) The preceding provisions of this section have effect in relation to any disposal on or after 6th April 1998 of any securities (whenever acquired).
(7) The powers of the Treasury to make provision by regulations under one or more of—
(a) section 333 of the Taxes Act 1988 (investment plan regulations),
(a) section 151 of the Taxation of Chargeable Gains Act 1992 (capital gains tax and investment plans), and
(c) Chapter 3 of Part 6 of the Income Tax (Trading and Other Income) Act 2005 (income from individual investment plans),
shall include power to provide, to such extent as appears to them to be appropriate for purposes connected with the enactment of this section and section 124 below, for any provision contained in any such regulations to have effect retrospectively in relation to such times falling on or after 17th March 1998 as may be specified in the regulations.
Your change, as a redline
123 Abolition of pooling for CGT.
(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3) In subsection (3) of that section (interpretation), for “ “a new holding” is" there shall be substituted “ “a section 104 holding” is ”.
(4) For subsection (4) of that section there shall be substituted the following subsection—
(4) For the purposes of this Chapter securities of a company which are held—
(a) by a person who acquired them as an employee of the company or of any other person, and
(b) on terms which for the time being restrict his right to dispose of them,
shall (notwithstanding that they would otherwise fall to be treated as of the same class) be treated as of a different class from any securities acquired by him otherwise than as an employee of the company or of any other person and also from any shares that are not held subject to restrictions, or the same restrictions, on disposal or in the case of which the restrictions are no longer in force.
(5) In the following enactments for the words “new holding", wherever they occur, there shall be substituted “ section 104 holding ”, namely—
(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b) in sections 104(6), 107 and 110 of the Taxation of Chargeable Gains Act 1992.
(6) The preceding provisions of this section have effect in relation to any disposal on or after 6th April 1998 of any securities (whenever acquired).
(7) The powers of the Treasury to make provision by regulations under one or more of—
(a) section 333 of the Taxes Act 1988 (investment plan regulations),
(a) section 151 of the Taxation of Chargeable Gains Act 1992 (capital gains tax and investment plans), and
(c) Chapter 3 of Part 6 of the Income Tax (Trading and Other Income) Act 2005 (income from individual investment plans),
shall include power to provide, to such extent as appears to them to be appropriate for purposes connected with the enactment of this section and section 124 below, for any provision contained in any such regulations to have effect retrospectively in relation to such times falling on or after 17th March 1998 as may be specified in the regulations.
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