Regulation 3 Transfers from OPLC to LLDC
(1)
This regulation applies to an OPLC relevant transfer.
(2)
For the purposes of any enactment about income tax or corporation tax—
(a)
OPLC and LLDC are to be treated as the same person, and
(b)
a relevant transfer is to be disregarded for those purposes.
(3)
A relevant transfer is not to be regarded for the purposes of Part 8 of CTA 2009 (intangible fixed assets) as involving any realisation of an asset by OPLC or acquisition of an asset by LLDC.
(4)
A relevant transfer is not to be regarded for the purposes of Part 14 of CTA 2010 (change in company ownership) as resulting in a change of ownership of a company.
(5)
A relevant transfer does not give rise to any liability to stamp duty land tax.