# Finance Act 1989, Paragraph 9

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

(1) This paragraph applies where a security is transferred from one person toanother (whether or not on or after 14th March 1989) and—
(a) the transfer is made for a consideration which consists of or includesconsideration not in money or money’s worth, or
(b) the transfer is made otherwise than by way of a bargain made at arm’slength.
(2) For the purposes of paragraph 5 above—
(a) the person making the transfer shall be treated as obtaining in respectof it an amount equal to the market value of the security at the time of thetransfer, and
(b) the person to whom the transfer is made shall be treated as paying inrespect of his acquisition of the security an amount equal to that marketvalue.

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Source: https://www.legislation.gov.uk/ukpga/1989/26/schedule/11/paragraph/9 (the official version)
Page: https://openlegislation.uk/finance-act-1989/schedule-11/paragraph-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.