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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Order)

This Order deals with tax consequences of a transfer scheme made under section 23 of the Public Bodies Act 2011 (c. 24) transferring property, rights and liabilities from the Countryside Council for Wales (“the CCW”) to the Natural Resources Body for Wales (“the NRBW”).

For income tax and corporation tax purposes the CCW and the NRBW are to be treated as the same person and in particular any transfer of property, rights or liabilities from the CCW to the NRBW is to be disregarded for those purposes.

A Tax Information and Impact Note covering this instrument will be published on the HMRC website at http://www.hmrc.gov.uk/thelibrary/tiins.htm.