1.  This Order may be cited as the Capital Gains Tax (Gilt-edged Securities) Order 1989.

2.  The following securities are hereby specified for the purposes of Schedule 2 to the Capital Gains Tax Act 1979–

• 12¼% Exchequer Stock 1985“A”

• 8 % Treasury Stock 1991

• 8¼% Treasury Stock 1993

• 8½% Treasury Stock 1994

• 8½% Treasury Stock 1994“A”

• 2 % Index-linked Treasury Stock 1994

• 8¾% Treasury Loan 1997“C”

Explanatory Note

(This note is not part of the Order)

This Order specifies gilt-edged securities disposals of which are exempt from tax on capital gains in accordance with section 67 of the Capital Gains Tax Act 1979. Section 59 of the Finance Act 1986 (c. 41) substituted in relation to disposals on or after 2nd July 1986 a new section 67 of the Capital Gains Tax Act 1979 for that originally enacted.

The following other specified gilt-edged securities enjoy exemption in accordance with section 67 of the Capital Gains Tax Act 1979 and are listed in Part II of Schedule 2 to the Capital Gains Tax Act 1979 and in S.I. 1979/1231, 1676, 1980/507, 922, 1910, 1981/615, 1879, 1982/413, 1774, 1983/1774, 1984/1966, 1986/12, 1987/259, 1988/360.

Stocks and bonds charged on the National Loans Fund

• 11½% Treasury Stock 1979

• 3 % Treasury Stock 1979

• 10½% Treasury Stock 1979

• 9 % Treasury Convertible Stock 1980

• 4 % British Overseas Airways Stock 1974–80

• 9½% Treasury Stock 1980

• 3½% Treasury Stock 1977–80

• 5¼% Funding Stock 1978–80

• 13 % Exchequer Stock 1980

• 11½% Treasury Stock 1981

• 3½% Treasury Stock 1979–81

• 9¾% Treasury Stock 1981

• 8¼% Exchequer Stock 1981

• 9½% Exchequer Stock 1981

• 3 % Exchequer Stock 1981

Variable Rate Treasury Stock 1981

• 12¾% Exchequer Stock 1981

• 8½% Treasury Loan 1980–82

• 3 % Treasury Stock 1982 14 % Treasury Stock 1982

• 2½% British Overseas Airways Stock 1977–82

Variable Rate Treasury Stock 1982

• 8¼% Treasury Stock 1982

• 9¼% Exchequer Stock 1982

• 8¾% Exchequer Stock 1983

• 3 % British Overseas Airways Stock 1980–83

• 3 % Exchequer Stock 1983

• 12 % Treasury Loan 1983

• 12 % Treasury Loan 1983“A”

• 9¼% Treasury Stock 1983

• 10 % Exchequer Stock 1983

Variable Rate Treasury Stock 1983

• 13½% Exchequer Stock 1983

• 3 % Exchequer Stock 1983“A”

• 5½% Funding Stock 1982–84

• 12 % Treasury Stock 1984

• 3 % Exchequer Stock 1984

• 11¼% Exchequer Stock 1984

• 14 % Exchequer Stock 1984

• 12¼% Exchequer Stock 1985

• 15 % Treasury Stock 1985

• 3 % Treasury Stock 1985

• 3 % Treasury Stock 1985“A”

• 12 % Exchequer Convertible Stock 1985

• 11½% Treasury Stock 1985

• 8¾% Treasury Convertible Stock 1985

• 8½% Treasury Loan 1984–86

• 2½% Exchequer Stock 1986

• 11¾% Exchequer Stock 1986

• 14 % Exchequer Stock 1986

• 10½% Exchequer Convertible Stock 1986

• 3 % Treasury Stock 1986 12 % Treasury Stock 1986

• 12¼% Treasury Convertible Stock 1986

• 10 % Treasury Convertible Stock 1986

• 6½% Funding Loan 1985–87

• 13¼% Exchequer Stock 1987

• 13¼% Exchequer Stock 1987“A”

• 2½% Exchequer Stock 1987

• 10½% Exchequer Stock 1987

• 10½% Exchequer Stock 1987“A”

• 12 % Treasury Stock 1987

• 3 % Treasury Stock 1987

• 12 % Treasury Stock 1987“A”

• 10¼% Treasury Convertible Stock 1987

• 10 % Treasury Stock 1987

• 7¾% Treasury Loan 1985–88

• 3 % British Transport Stock 1978–88 (issued under section 89 of the Transport Act 1947 (c. 49))

• 3 % British Transport Stock 1978–88 (issued under section 12 of the National Loans Act 1968 (c. 13))

• 2 % Index-linked Treasury Stock 1988

• 10½% Exchequer Stock 1988

• 9½% Treasury Stock 1988

• 9½% Treasury Stock 1988“A”

• 9¾% Treasury Convertible Stock 1988

• 5 % Treasury Stock 1986–89

• 11½% Treasury Stock 1989

• 11½% Treasury Stock 1989“A”

• 3 % Treasury Stock 1989

• 10½% Treasury Stock 1989

• 9½% Treasury Convertible Stock 1989

• 10 % Exchequer Stock 1989

• 10 % Exchequer Stock 1989“A”

• 11 % Exchequer Stock 1989

• 10¼% Exchequer Convertible Stock 1989

• 8¼% Treasury Loan 1987–90

• 2 % Index-linked Treasury Stock 1990

• 13 % Treasury Stock 1990 3 % Treasury Stock 1990

• 8 % Treasury Convertible Stock 1990

• 10 % Treasury Convertible Stock 1990

• 2½% Exchequer Stock 1990

• 12½% Exchequer Stock 1990

• 11 % Exchequer Loan 1990

• 3 % Treasury Stock 1991

• 11¾% Treasury Stock 1991

• 11¾% Treasury Stock 1991“A”

• 10 % Treasury Convertible Stock 1991

• 11 % Exchequer Stock 1991

• 5¾% Funding Loan 1987–91

• 8 % Treasury Loan 1992

• 12¾% Treasury Loan 1992

• 3 % Treasury Stock 1992

• 10 % Treasury Stock 1992

• 2 % Index-linked Treasury Stock 1992

• 10½% Treasury Convertible Stock 1992

• 12¼% Exchequer Stock 1992

• 13½% Exchequer Stock 1992

• 10 % Treasury Loan 1993

• 12½% Treasury Loan 1993

• 13¾% Treasury Loan 1993

• 6 % Funding Loan 1993

• 10 % Treasury Loan 1994

• 14½% Treasury Loan 1994

• 12½% Exchequer Stock 1994

• 9 % Treasury Loan 1994

• 13½% Exchequer Stock 1994

• 3 % Exchequer Gas Stock 1990–1995 (formerly 3% British Gas Stock 1990–95)

• 12 % Treasury Stock 1995

• 10¼% Exchequer Stock 1995

• 12¾% Treasury Loan 1995

• 9 % Treasury Loan 1992–96

• 15¼% Treasury Loan 1996

• 13¼% Exchequer Loan 1996

• 14 % Treasury Stock 1996

• 2 % Index-linked Treasury Stock 1996

• 10 % Conversion Stock 1996

• 13¼% Treasury Loan 1997

• 10½% Exchequer Stock 1997

• 8¾% Treasury Loan 1997

• 8¾% Treasury Loan 1997“B”

• 15 % Exchequer Stock 1997

• 6¾% Treasury Loan 1995–98

• 15½% Treasury Loan 1998

• 12 % Exchequer Stock 1998

• 12 % Exchequer Stock 1998“A”

• 9¾% Exchequer Stock 1998

• 9¾% Exchequer Stock 1998“A”

• 9½% Treasury Loan 1999

• 10½% Treasury Stock 1999

• 2½% Index-linked Treasury Convertible Stock 1999

• 10¼% Conversion Stock 1999

• 12¼% Exchequer Stock 1999

• 12¼% Exchequer Stock 1999“A”

• 12¼% Exchequer Stock 1999“B”

• 9 % Conversion Stock 2000

• 9 % Conversion Stock 2000“A”

• 8½% Treasury Loan 2000

• 13 % Treasury Stock 2000

• 14 % Treasury Stock 1998–2001

• 2½% Index-linked Treasury Stock 2001

• 10 % Treasury Stock 2001

• 9¾% Conversion Stock 2001

• 9½% Conversion Loan 2001

• 12 % Exchequer Stock 1999–2002

• 12 % Exchequer Stock 1999–2002“A”

• 9¾% Treasury Stock 2002

• 9½% Conversion Stock 2002

• 10 % Conversion Stock 2002

• 9 % Exchequer Stock 2002

• 13¾% Treasury Stock 2000–2003

• 13¾% Treasury Stock 2000–2003“A”

• 10 % Treasury Stock 2003

• 2½% Index-linked Treasury Stock 2003

• 9¾% Conversion Loan 2003

• 3½% Funding Stock 1999–2004

• 11½% Treasury Stock 2001–2004

• 10 % Treasury Stock 2004

• 9½% Conversion Stock 2004

• 12½% Treasury Stock 2003–2005

• 12½% Treasury Stock 2003–2005“A”

• 10½% Exchequer Stock 2005

• 9½% Conversion Stock 2005

• 9½% Conversion Stock 2005“A”

• 8 % Treasury Loan 2002–2006

• 8 % Treasury Loan 2002–2006“A”

• 2 % Index-linked Treasury Stock 2006

• 9¾% Conversion Stock 2006

• 11¾% Treasury Stock 2003–2007

• 11¾% Treasury Stock 2003–2007“A”

• 8½% Treasury Loan 2007

• 13½% Treasury Stock 2004–2008

• 9 % Treasury Loan 2008

• 9 % Treasury Loan 2008“A”

• 8 % Treasury Stock 2009

• 2½% Index-linked Treasury Stock 2009

• 2½% Index-linked Treasury Stock 2011

• 9 % Conversion Loan 2011

• 5½% Treasury Stock 2008–2012

• 2½% Index-linked Treasury Stock 2013

• 7¾% Treasury Loan 2012–2015

• 2½% Treasury Stock 1986–2016

• 2½% Index-linked Treasury Stock 2016

• 2½% Index-linked Treasury Stock 2016“A”

• 12 % Exchequer Stock 2013–2017

• 2½% Index-linked Treasury Stock 2020

• 2½% Index-linked Treasury Stock 2024

• 2½% Annuities 1905 or after

• 2¾% Annuities 1905 or after

• 2½% Consolidated Stock 1923 or after

• 4 % Consolidated Loan 1957 or after

• 3½% Conversion Loan 1961 or after

• 2½% Treasury Stock 1975 or after

• 3 % Treasury Stock 1966 or after

• 3½% War Loan 1952 or after

Securities issued by the Treasury under Part II of the Tithe Act 1936 (c. 43)

• 3 % Redemption Stock 1986–96

Securities issued by certain public corporations and guaranteed by the Treasury

• 4¼% North of Scotland Electricity Stock 1974–79

• 4¼% British Electricity Stock 1974–79

• 3½% British Electricity Stock 1976–79

• 3½% North of Scotland Electricity Stock 1977–80

• 3 % British European Airways Stock 1980–83

• 3 % North of Scotland Electricity Stock 1989–92