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Capital Transfer Tax

Volume 987: debated on Thursday 3 July 1980

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asked the Chancellor of the Exchequer whether, with reference to his written answer to the hon. Member for Warley, East, Official Report 25 June, column 203, the Arts Council, the British Council and the Royal Academy of Arts would be treated as public galleries for the purpose of loans of property conditionally exempted from capital transfer tax, in the sense that loans to these bodies would not entail breach by the owners of their undertakings for the preservation of the property in question; and whether loans for which Government indemnities have been approved relieves by virtue of that fact owners from any such breach, in view of section 16(4) of the National Heritage Act 1980.