{
  "url": "https://openlegislation.uk/northern-rock-plc-tax-consequences-regulations-2009/regulation-3",
  "json_url": "https://openlegislation.uk/northern-rock-plc-tax-consequences-regulations-2009/regulation-3.json",
  "legislation": "uksi/2009/3227",
  "legislation_title": "The Northern Rock plc (Tax Consequences) Regulations 2009",
  "legislation_url": "https://openlegislation.uk/northern-rock-plc-tax-consequences-regulations-2009",
  "path": "regulation/3",
  "kind": "regulation",
  "number": "3",
  "heading": "Chargeable gains: no gain or loss disposal",
  "text": "(1) For the purposes of the Taxation of Chargeable Gains Act 1992, a disposal constituted by a relevant transfer is to be treated in relation to ACo and BCo as being for a consideration such that neither a gain nor a loss accrues to the transferor.\n(2) For the purposes of any tax provision, paragraph (1) is to be treated as one of the no gain/no loss provisions in section 288(3A) of the Taxation of Chargeable Gains Act 1992 (meaning of “the no gain/no loss provisions”).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "1992 c. 12."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "Subsection (3A) was inserted by paragraph 57 of Schedule 2 to the Finance Act 2008 (c. 9)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2009/3227/regulation/3",
    "retrieved_at": "2026-10-29T02:59:14.387519+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."
}