# Taxation of Chargeable Gains Act 1992, Section 140DA: Securities issued on division of business

Extent: E+W+S+N.I.

(1) This section applies where—
(a) a transfer of assets to which section 140A(1A) or 140C(1A) applies has taken place,
(b) the transferor and the transferee (or each of the transferees) are each resident in a relevant state,
(c) they are not all resident in the same relevant state, and
(e) the transfer does not constitute or form part of a scheme of reconstruction within the meaning of section 136.
(2) Where this section applies, the transfer shall be treated for the purposes of section 136 as if it were a scheme of reconstruction.
(3) Where section 136 applies by virtue of subsection (2) above section 136(6) (and section 137) shall not apply.

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Source: https://www.legislation.gov.uk/ukpga/1992/12/section/140DA (the official version)
Page: https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/section-140DA
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.