1 Citation

This Order may be cited as the Finance Act 2008, Section 39(7) (Commencement) Order 2011.

NOTES
Initial Commencement
Date Made

Date made: 10 January 2011: (no specific commencement provision).

2 Appointed Day

2Appointed Day

The day appointed for the coming into force of section 39(7) of the Finance Act 2008 is 1st February 2011.

NOTES
Initial Commencement
Date Made

Date made: 10 January 2011: (no specific commencement provision).

Signature

Michael Fabricant

James Duddridge

Two of the Lords Commissioners of Her Majesty's Treasury

10th January 2011

EXPLANATORY NOTE

EXPLANATORY NOTE (This note is not part of the Order)

This Order brings into force section 39(7) of the Finance Act 2008 (c 9) which inserted a new section, section 26A, in the Taxation of Chargeable Gains Act 1992 (c 12). Section 26A deals with dormant bank or building society accounts (under the Dormant Bank and Building Society Accounts Act 2008 (c 31)) and provides that the transfer of the balance of a dormant account to an authorised reclaim fund (or such a fund and one or more charities) is not to be treated as the disposal or acquisition of an asset.