# Taxation of Chargeable Gains Act 1992, Paragraph 11


(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—
(a) the shares concerned, or
(b) shares, or an interest in shares, from which those shares are derived.
(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—
(a) the interest concerned, or
(b) shares, or an interest in shares, from which that interest is derived.
(3) In this paragraph—
“deemed disposal and reacquisition” means a disposal and immediate reacquisition treated as taking place under any enactment relating to corporation tax;
“derived” has the same meaning as in paragraph 10.

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Source: https://www.legislation.gov.uk/ukpga/1992/12/schedule/7AC/paragraph/11 (the official version)
Page: https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-7AC/paragraph-11
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.