§ Mr. Fauldsasked the Chancellor of the Exchequer whether, pursuant to his written answer to the hon. Member for Warley, East on 13 July, there is any impediment to the status of exemptibility from capital transfer tax of heritage objects being conferred immediately before, or concurrently with, sale by private treaty to a qualified public institution or body, thus resulting in a transaction the proceeds from which are by statute tax-free; and whether there is any statutory provision which precludes the agreed price at which such a private treaty sale takes place from being a matter of free 91W negotiation, without obligatory reference to any particular practice as regards method or rate of computation, between the two parties concerned in the transaction.
§ Mr. Peter ReesI shall let the hon. Member have a reply as soon as possible.