# Finance Act 2015, Paragraph 21


(1) Section 139 (reconstruction involving transfer of business) is amended as follows.
(2) In subsection (1A)—
(a) in paragraph (a), after “chargeable assets” insert “ or NRCGT assets ”;
(b) in paragraph (b), after “chargeable assets” insert “ or NRCGT assets ”.
(3) After subsection (1A) insert—
“(1AA) For the purposes of subsection (1A), an asset is an “NRCGT asset” in relation to a company at any time if—
(a) the disposal of the asset by the company at that time would be a non-resident CGT disposal, and
(b) the company would not be, in relation to that disposal, an eligible person (as defined in section 14F).”

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Source: https://www.legislation.gov.uk/ukpga/2015/11/schedule/7/paragraph/21 (the official version)
Page: https://openlegislation.uk/finance-act-2015/schedule-7/paragraph-21
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.