Paragraph 7
United Kingdom
Where the IBA have before the transfer date disposed of (or of their interest in) any assets used, throughout the period of ownership, wholly or partly for the purposes of the part of their trade transferred to the nominated company under the principal Act, sections F1152 to 156 of the 1992 Act (roll-over relief on replacement of business assets) shall have effect in relation to that disposal as if the IBA and the nominated company were the same person.
Annotations
Textual amendments
- F1
Words in Sch. 12 paras. 7 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)(c) (with ss. 60, 101(1), 201(3)).