{
  "url": "https://openlegislation.uk/british-aerospace-act-1980/section-12",
  "json_url": "https://openlegislation.uk/british-aerospace-act-1980/section-12.json",
  "legislation": "ukpga/1980/26",
  "legislation_title": "British Aerospace Act 1980",
  "legislation_url": "https://openlegislation.uk/british-aerospace-act-1980",
  "path": "section/12",
  "kind": "section",
  "number": "12",
  "heading": "Corporation tax and development land tax.",
  "text": "(1) Subject to subsection (2) below, the successor company shall be treated for all purposes of corporation tax and development land tax as if it were the same person as British Aerospace.\n(2) The successor company shall not by virtue of subsection (1) above be regarded as a body falling within section 170(12) of the Taxation of Chargeable Gains Act 1992 (bodies established for carrying on industries or undertakings under national ownership or control).",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 12(2) substituted (6.3.1992 with effect as mentioned in s. 289(1)(2) of the amending Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289, 290, Sch. 10 para.4"
    },
    {
      "type": "M",
      "label": "M1",
      "text": "1992 c. 12"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1980/26/section/12",
    "retrieved_at": "2026-10-29T10:16:04.971757+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."
}