PART IV

Capital Acquisitions Tax

83. — Section 19 of the Capital Acquisitions Tax Act, 1976 , shall, as respects a gift or inheritance taken on or after the 1st day of April, 1980, have effect as if “£150,000” were substituted for “£100,000” in each place where it occurs.

84. — Section 35 of the Capital Acquisitions Tax Act, 1976 , shall, as respects a gift taken on or after the 28th day of February, 1974, or an inheritance taken on or after the 1st day of April, 1975, have effect as if after “therefor” in subsection (7) there were inserted “unless—

(a) the latter person is the donee or successor referred to in paragraph (a) of subsection (1) and the interest taken by him is a limited interest, or

(b) in the case referred to in paragraph (b) of the said subsection (1), the latter person is the transferee and the interest taken by the remainderman is a limited interest”.