# Finance Act 2013, Section 120: Acquisitions and disposals of chargeable interests


(1) References in this Part to the acquisition of a chargeable interest include any acquisition however effected (including an acquisition effected by the act of parties to a transaction, by order of a court or other authority, by or under any statutory provision or by operation of law).
(2) The surrender or release of a chargeable interest is—
(a) an acquisition of that interest by any person whose interest or right is benefited or enlarged by the transaction, and
(b) a disposal by the person ceasing to be entitled to that interest.
(3) The variation of a chargeable interest is—
(a) an acquisition of a chargeable interest by the person benefiting from the variation, and
(b) a disposal of a chargeable interest by the person whose interest is subject to or limited by the variation.

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Source: https://www.legislation.gov.uk/ukpga/2013/29/section/120 (the official version)
Page: https://openlegislation.uk/finance-act-2013/section-120
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.