{
  "url": "https://openlegislation.uk/finance-act-2009/schedule-40/paragraph-6",
  "json_url": "https://openlegislation.uk/finance-act-2009/schedule-40/paragraph-6.json",
  "legislation": "ukpga/2009/10",
  "legislation_title": "Finance Act 2009",
  "legislation_url": "https://openlegislation.uk/finance-act-2009",
  "path": "schedule/40/paragraph/6",
  "kind": "paragraph",
  "number": "6",
  "heading": null,
  "text": "(1) Section 196 (interpretation of sections 194 and 195) is amended as follows.\n(2) In the heading, for “and 195” substitute “ to 195E ”.\n(3) In subsection (1), after “section 194” insert “ and this section ”.\n(4) After subsection (1A) insert—\n“(1B) In sections 195A to 195E, a reference to a UK licence that relates to a developed area is a reference to any UK licence apart from one that relates to an undeveloped area.”\n(5) In subsection (2), for “and (1A)” substitute “ to (1B) ”.\n(6) In subsection (3), after “(1)” insert “ or (1B) ”.\n(7) In subsection (5)—\n(a) for “and 195” substitute “ to 195E ”,\n(b) after the definition of “licence” insert—\n““licence-consideration swap” has the meaning given in section 195A(2);”, and\n(c) after the definition of “licensee” insert—\n““mixed consideration” means consideration that consists partly of disposal of a UK licence;\n“mixed-consideration swap” has the meaning given in section 195A(2);\n“no gain/no loss amount”, in relation to a company that disposes of a UK licence, means the amount that would be taken to be the consideration for the disposal if section 56(2) applied to the disposal;\n“non-licence consideration” means consideration that does not consist of disposal of a UK licence, as determined at the time the swap arrangements are entered into;\n“swap arrangements”, in relation to a licence-consideration swap or a mixed-consideration swap, means the arrangements under which the swap takes place;”.\n(8) After subsection (5A) insert—\n“(5B) In any of sections 195B to 195E, a reference to the value of a licence comprised in disposal A or disposal B (see section 195A) is a reference to the value of the licence as determined under the swap arrangements at the time the swap arrangements are entered into.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2009/10/schedule/40/paragraph/6",
    "retrieved_at": "2026-10-29T09:11:08.872832+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."
}