# The Northern Rock plc (Tax Consequences) Regulations 2009, Regulation 3: Chargeable gains: no gain or loss disposal


(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.
(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”).

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Source: https://www.legislation.gov.uk/uksi/2009/3227/regulation/3 (the official version)
Page: https://openlegislation.uk/northern-rock-plc-tax-consequences-regulations-2009/regulation-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.