{
  "url": "https://openlegislation.uk/authorised-investment-funds-tax-regulations-2006/regulation-85X",
  "json_url": "https://openlegislation.uk/authorised-investment-funds-tax-regulations-2006/regulation-85X.json",
  "legislation": "uksi/2006/964",
  "legislation_title": "The Authorised Investment Funds (Tax) Regulations 2006",
  "legislation_url": "https://openlegislation.uk/authorised-investment-funds-tax-regulations-2006",
  "path": "regulation/85X",
  "kind": "regulation",
  "number": "85X",
  "heading": "Application of section 135 of TCGA 1992",
  "text": "(1) Section 135 of TCGA 1992 (exchange of securities for those in another company treated as not involving a disposal) does not apply for the purposes of this Part to the extent that—\n(a) the interest in the entity that is company A for the purposes of that section that is exchanged is units in a FINROF, and\n(b) the interest in the entity that is company B for those purposes that is exchanged is not units in such a fund.\n(2) In a case where section 135 of TCGA 1992 would apply apart from paragraph (1), the exchange in question shall for the purposes of this Part constitute a disposal of units in the FINROF for a consideration equal to their market value at the time of the exchange.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Pt. 6A inserted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Authorised Investment Funds (Tax) (Amendment) Regulations 2010 (S.I. 2010/294), regs. 1(1), 21 (with regs. 25, 26)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2006/964/regulation/85X",
    "retrieved_at": "2026-10-29T04:30:57.523890+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}