{
  "url": "https://openlegislation.uk/finance-act-1994/schedule-11/paragraph-10",
  "json_url": "https://openlegislation.uk/finance-act-1994/schedule-11/paragraph-10.json",
  "legislation": "ukpga/1994/9",
  "legislation_title": "Finance Act 1994",
  "legislation_url": "https://openlegislation.uk/finance-act-1994",
  "path": "schedule/11/paragraph/10",
  "kind": "paragraph",
  "number": "10",
  "heading": null,
  "text": "In section 164L—\n(a) after subsection (10) there is inserted—\n“(10A) For the purposes of this Chapter, where—\n(a) a person has acquired any eligible shares in a qualifying company (“the acquired holding”) for a consideration which is treated as reduced under this Chapter by any amount (“the held-over gain”), and\n(b) after that acquisition, he acquires eligible shares in a relevant company,\nhe shall not be regarded in relation to his acquisition of those shares in the relevant company as acquiring a qualifying investment for the purposes of section 164A.\n(10B) For the purposes of subsection (10A) above a company is a relevant company if—\n(a) where that person has disposed of any of the acquired holding, it is the company in which the acquired holding has subsisted or a company which was a member of the same group of companies as that company at any time since the acquisition of the acquired holding,\n(b) it is a company in relation to the disposal of any shares in which there has been a claim under this Chapter such that, without that or an equivalent claim, there would have been no held-over gain in relation to the acquired holding, or\n(c) it is a company which, at the time of the disposal or acquisition to which the claim relates, was a member of the same group of companies as a company falling within paragraph (b) above”, and\n(b) in subsection (11), for the definition of “chargeable business assets” there is substituted—\n““chargeable business asset”, in relation to any company, means a chargeable asset (including goodwill but not including shares or securities or other assets held as investments) which is, or is an interest in, an asset used for the purposes of a trade, profession, vocation, office or employment carried on by—\n(a) the individual acquiring the shares,\n(b) any personal company of that individual,\n(c) a member of a trading group of which the holding company is a personal company of that individual, or\n(d) a partnership of which that individual is a member”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1994/9/schedule/11/paragraph/10",
    "retrieved_at": "2026-10-29T09:34:21.412655+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."
}