{
  "url": "https://openlegislation.uk/capital-gains-tax-act-1979-repealed-631992/section-78",
  "json_url": "https://openlegislation.uk/capital-gains-tax-act-1979-repealed-631992/section-78.json",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  "legislation_title": "Capital Gains Tax Act 1979 (repealed 6.3.1992)",
  "legislation_url": "https://openlegislation.uk/capital-gains-tax-act-1979-repealed-631992",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/78",
  "kind": "section",
  "number": "78",
  "heading": "Equation of original shares and new holding.",
  "text": "Subject to sections 79 to 81 below, a reorganisation shall not be treated as involving any disposal of the original shares or any acquisition of the new holding or any part of it, but the original shares (taken as a single asset) and the new holding (taken as a single asset) shall be treated as the same asset acquired as the original shares were acquired.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "C",
      "label": "C1",
      "text": "See— Capital Gains Tax Act 1979 (c. 14), s. 149C(5); Finance Act 1982 (c. 39, SIF 63:2), s. 86 and Sch. 13 para. 5; Finance Act 1984 (c. 43, SIF 63:2), s. 64(7) and Sch. 13 Part II regarding treatment of qualifying corporate bonds; Finance Act 1985 (c. 54), s. 69 and Sch. 20 para. 2; Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), ss. 139(13), 299(5), 305, 757(1), 758(5) and 760(4); Finance Act 1988 (c. 39, SIF 63;1, 2), ss. 82, 114 and Sch. 11 para. 3(1)(b); Finance Act 1989 (c. 26, SIF 63:2), s. 140; S.I. 1986 No. 1948 regulation 32(3) and S.I. 1989 No. 469 regulation 27"
    },
    {
      "type": "C",
      "label": "C2",
      "text": "See Finance Act 1980 (c. 48, SIF 63:2), s. 117 and Sch. 18 para. 9"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1979/14/section/78",
    "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."
}