[268B Compensation for deprivation of foreign assets]
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

[268B  Compensation for deprivation of foreign assets]

[(1)     A gain is not a chargeable gain if—

(a)     it accrues to a person on receipt of a capital sum paid by way of compensation for the deprivation of a foreign asset,

(b)     no legal redress was available when the deprivation occurred, and

(c)     the sum is paid as the result of a relevant compensation award.

(2)     A relevant compensation award is an award or distribution made—

(a)     under—

(i)     an Order in Council made under the Foreign Compensation Act 1950, or

(ii)     arrangements established by the government of a territory outside the United Kingdom that are equivalent in effect to such an Order,

(b)     as a result of a recommendation of—

(i)     the Spoliation Advisory Panel, or

(ii)

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