Section 356OQ “Disposal”F1

(1)

In this Part references to a “disposal” of any property include any case in which the property is effectively disposed of (whether wholly or in part, as mentioned in subsection (2))—

(a)

by one or more transactions, or

(b)

by any arrangement.

(2)

For the purposes of this Part—

(a)

references to a disposal of land or any other property include a part disposal of the property, and

(b)

there is a part disposal of property (“the asset”) where on a person making a disposal, any form of property derived from the asset remains undisposed of (including in cases where an interest or right in or over the asset is created by the disposal, as well as where it subsists before the disposal).

Annotations

Textual amendments

F1: Pt. 8ZB inserted (with effect in accordance with s. 81 of the amending Act and also with effect in accordance with Finance (No. 2) Act 2017 (c. 32), s. 39(1)(2))) by Finance Act 2016 (c. 24), s. 77(1)

Notes on Part 8ZB

Modifications

C1: Pt. 8ZB applied (with modifications) by 1992 c. 12, Sch. 1A para. 4(6) (as inserted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 14)