# Finance Act 2000, Paragraph 85

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

(1) Where this paragraph applies (see paragraph 83 and paragraph 4 of Schedule 7AC to the Taxation of Chargeable Gains Act 1992), any investment relief or deferral relief which is attributable to any old shares shall be attributable instead to the new shares for which they are exchanged.
(2) Where investment relief becomes so attributable to any new shares—
(a) this Schedule shall have effect as if anything which under paragraph 41, 42, 60 or 65 has been done, or is required to be done, by or in relation to the old company had been done, or were required to be done, by or in relation to the new company; and
(b) any appeal brought by the old company against—
(i) the refusal of the Inland Revenue to authorise the issue of a compliance certificate, or
(ii) a notice under paragraph 60(3)(b),
may be prosecuted by the new company as if it had been brought by that company.

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Source: https://www.legislation.gov.uk/ukpga/2000/17/schedule/15/paragraph/85 (the official version)
Page: https://openlegislation.uk/finance-act-2000/schedule-15/paragraph-85
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.