{
  "url": "https://openlegislation.uk/capital-gains-tax-act-1979-repealed-631992/section-149A",
  "json_url": "https://openlegislation.uk/capital-gains-tax-act-1979-repealed-631992/section-149A.json",
  "legislation": "ukpga/1979/14",
  "legislation_title": "Capital Gains Tax Act 1979 (repealed 6.3.1992)",
  "legislation_url": "https://openlegislation.uk/capital-gains-tax-act-1979-repealed-631992",
  "path": "section/149A",
  "kind": "section",
  "number": "149A",
  "heading": "Building societies and life policies.",
  "text": "(1) If in the course of or as part of an amalgamation of two or more building societies or a transfer of engagements from one building society to another, there is a disposal of an asset by one society to another, both shall be treated for the purposes of corporation tax on chargeable gains as if the asset were acquired from the one making the disposal for a consideration of such amount as would secure that on the disposal neither a gain nor a loss would accrue to the one making the disposal.\nIn this subsection “building society” means a building society within the meaning of the Building Societies Act 1986.\n(2) Where any investments or other assets are or have been, in accordance with a policy issued in the course of life assurance business carried on by an insurance company, transferred to the policy holder on or after 6th April 1967, the policy holder’s acquisition of the assets and the disposal of them to him shall be deemed to be, for the purposes of this Act, for a consideration equal to the market value of the assets.\nIn this subsection “life assurance business” and “insurance company” have the same meaning as in Chapter I of Part XII of the Taxes Act 1988.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Ss. 149A–149D added by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), Sch. 29 para. 26"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "See Finance Act 1988 (c. 39, SIF 63;1, 2), s. 96 and Sch. 8 para. 1"
    },
    {
      "type": "C",
      "label": "C2",
      "text": "See— Diplomatic Privileges Act 1964 (c. 81); Commonwealth Secretariat Act 1966 (c. 10); International Organisations Act 1968 (c. 48); Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 505"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1979/14/section/149A",
    "retrieved_at": "2026-10-29T10:18:25.768570+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."
}