Section 74Part 2 — The Financial Reporting Authority
Value of tainted gifts
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The value at any time (“ the material time ”) of a tainted gift is the greater of the following —
the value at the time of the gift of the property given, adjusted to take account of later changes in the value of money; and
where subsection
applies, the value (at the material time) of the property there mentioned. ( 2 ) The property referred to under subsection (1) is as follows —
the property which the recipient received (not being cash); or
property which, in whole or in part, directly or indirectly represents in the recipient’s hands the property which that perso n received.
T he references in subsection (1)
and
to the value are to the value found in accordance with section 72 .