Paragraph 7 I1

This paragraph applies for the purposes of Part 8 of the Corporation Tax Act 2009.

Expressions used in this paragraph have the same meaning as in that Part.

The transfer of a chargeable intangible asset is a tax-neutral transfer.

An intangible fixed asset which is a pre-FA 2002 asset of the company at the time of the transfer is to be treated, on and after the transfer, as a pre-FA 2002 asset of the Bank.

“Transfer” means a transfer from the company to the Bank by virtue of section 15.