# Capital Gains Tax Act 1979 (repealed 6.3.1992), Paragraph 2

Extent: E+W+S+N.I.

(1) Subject to this Schedule where the payment of a premium is required under a lease of land, or otherwise under the terms subject to which a lease of land is granted, there is a part disposal of the freehold or other asset out of which the lease is granted.
(2) In applying section 35 of this Act to such a part disposal, the property which remains undisposed of includes a right to any rent or other payments, other than a premium, payable under the lease, and that right shall be valued as at the time of the part disposal.

---
Source: https://www.legislation.gov.uk/ukpga/1979/14/schedule/3/paragraph/2 (the official version)
Page: https://openlegislation.uk/capital-gains-tax-act-1979-repealed-631992/schedule-3/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.