{
  "url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-5AAA/paragraph-20",
  "json_url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-5AAA/paragraph-20.json",
  "legislation": "ukpga/1992/12",
  "legislation_title": "Taxation of Chargeable Gains Act 1992",
  "legislation_url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992",
  "path": "schedule/5AAA/paragraph/20",
  "kind": "paragraph",
  "number": "20",
  "heading": null,
  "text": "(1) This paragraph applies if—\n(a) an election under paragraph 12 has been made at any time in respect of a qualifying fund or qualifying company, and\n(b) at any subsequent time, the qualifying fund or qualifying company ceases to meet the applicable exemption conditions.\n(2) The election ceases to have effect from that subsequent time in relation to disposals made at or after that time.\n(3) This paragraph needs to be read with—\n(a) paragraph 27 (temporary period of no more than 30 days during which certain of applicable exemption conditions not met),\n(b) paragraph 28 (temporary period of no more than 9 months during which applicable exemption conditions not met), and\n(c) paragraph 30 (steps taken by relevant fund manager to wind up relevant fund).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 5AAA inserted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 21"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1992/12/schedule/5AAA/paragraph/20",
    "retrieved_at": "2026-11-14T03:34:05.925206+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."
}