# Capital Gains Tax Act 1979 (repealed 6.3.1992), Paragraph 18

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

Where section 21(4)(a) of this Act applies to exclude a gain which, in consequence of this Schedule, is not all chargeable gain, the amount of the reduction to be made under section 21(4)(b) (corresponding reduction in allowable expenditure in respect of new asset) shall be the amount of the chargeable gain and not the whole amount of the gain; and in section 21(5)(b) of this Act (corresponding reduction in allowable expenditure in respect of the new asset where part only of the consideration in respect of the old asset has been applied as such expenditure) for the reference to the amount by which the gain is reduced under section 21(5)(a) there shall be substituted a reference to the amount by which the chargeable gain is proportionately reduced under the said section 21(5)(a).

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Source: https://www.legislation.gov.uk/ukpga/1979/14/schedule/5/paragraph/18 (the official version)
Page: https://openlegislation.uk/capital-gains-tax-act-1979-repealed-631992/schedule-5/paragraph-18
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.