Section 265 — Taxation of Chargeable Gains Act 1992: Designated international organisations.

Designated international organisations. 265 1 Where—

a the United Kingdom or any of the Communities is a member of an international organisation;

and b the agreement under which it became a member provides for exemption from tax, in relation to the organisation, of the kind for which provision is made by this section; the Treasury may by order designate that organisation for the purposes of this section.

2 The Treasury may by order designate any of the Communities or the European Investment Bank for the purposes of this section.

3 Where an organisation has been designated for the purposes of this section, then any security issued by the organisation shall be taken, for the purposes of this Act , to be situated outside the United Kingdom.