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Paragraph 97

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

This paragraph applies where for the purposes of this Schedule it falls to be determined whether a company has held shares continuously throughout any period.

(2)

The company shall not be treated as having held shares continuously throughout a period if—

(a)

it is deemed, under any provision of the 1992 Act, to have disposed of and immediately reacquired the shares at any time during the period, or

(b)

it is treated as having disposed of the shares at any such time, by virtue of paragraph 96(2) (on reconstruction or amalgamation company treated as disposing of shares continuously held by it to which investment relief is attributable).