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Paragraph 22

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

For the purposes of TCGA 1992 a disposal—

(a)

constituted by a relevant transfer, or

(b)

to which sub-paragraph (2) applies,

is to be taken to be for a consideration such that no gain or loss accrues to the person making the disposal.

(2)

This sub-paragraph applies to a disposal if—

(a)

it is made in accordance with provision contained in a transfer scheme by virtue of paragraph 4, 6 or 12 of Schedule 12 to this Act,

(b)

the person making the disposal is a taxable public body,

(c)

the person to whom the disposal is made is an exempt public body, and

(d)

each of those persons is either the transferor or a transferee under the scheme.