{
  "url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-7AC/paragraph-11",
  "json_url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-7AC/paragraph-11.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/7AC/paragraph/11",
  "kind": "paragraph",
  "number": "11",
  "heading": null,
  "text": "(1) For the purposes of this Part a company is not regarded as having held shares throughout a period if, at any time during that period, there is a deemed disposal and reacquisition of—\n(a) the shares concerned, or\n(b) shares, or an interest in shares, from which those shares are derived.\n(2) For the purposes of this Part a company is not regarded as having held an interest in shares throughout a period if, at any time during that period, there is a deemed disposal and reacquisition of—\n(a) the interest concerned, or\n(b) shares, or an interest in shares, from which that interest is derived.\n(3) In this paragraph—\n“deemed disposal and reacquisition” means a disposal and immediate reacquisition treated as taking place under any enactment relating to corporation tax;\n“derived” has the same meaning as in paragraph 10.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 7AC inserted (with effect in accordance with s. 44(3)(4) of the amending Act) by Finance Act 2002 (c. 23), Sch. 8 para. 1"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "Sch. 7AC para. 11 modified (24.2.2022) by Finance Act 2022 (c. 3), Sch. 2 para. 22(8)"
    },
    {
      "type": "C",
      "label": "C2",
      "text": "Sch. 7AC para. 11 modified (24.2.2022) by Finance Act 2022 (c. 3), Sch. 2 para. 34(2)(b)"
    },
    {
      "type": "C",
      "label": "C3",
      "text": "Sch. 7AC para. 11 modified (24.2.2022) by Finance Act 2022 (c. 3), Sch. 2 para. 31(4)"
    },
    {
      "type": "C",
      "label": "C4",
      "text": "Sch. 7AC para. 11 modified (24.2.2022) by Finance Act 2022 (c. 3), Sch. 2 para. 17(6)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1992/12/schedule/7AC/paragraph/11",
    "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."
}