{
  "url": "https://openlegislation.uk/finance-act-1990/schedule-12/paragraph-5",
  "json_url": "https://openlegislation.uk/finance-act-1990/schedule-12/paragraph-5.json",
  "legislation": "ukpga/1990/29",
  "legislation_title": "Finance Act 1990",
  "legislation_url": "https://openlegislation.uk/finance-act-1990",
  "path": "schedule/12/paragraph/5",
  "kind": "paragraph",
  "number": "5",
  "heading": null,
  "text": "(1) For the purposes of the 1992 Act the transfer by the principal Act of shares in the Channel 4 company from the Commission to the Channel Four Television Corporation shall be deemed to be for a consideration such that no gain or loss accrues to the Commission.\n(2) In sub-paragraph (1) “the Channel 4 company” means the body corporate referred to in section 12(2) of the Broadcasting Act 1981.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Sch. 12 paras. 4, 5, 6 substituted (6.3.1992 as mentioned in s. 289 (1)(2) of the substituting Act) by Taxation of Chargeable Gains Act 1992 (c. 12), s. 290, Sch. 10 para. 22(5)(b) (with ss. 60, 101(1), 201(3))."
    },
    {
      "type": "M",
      "label": "M1",
      "text": "1981 c. 68."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1990/29/schedule/12/paragraph/5",
    "retrieved_at": "2026-10-29T09:43:04.265975+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."
}