{
  "url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/section-140L",
  "json_url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/section-140L.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": "section/140L",
  "kind": "section",
  "number": "140L",
  "heading": "Interpretation",
  "text": "(1) In sections 140A to 140K and this section, unless the contrary intention appears—\n(a) “the Mergers Directive” means Council Directive 2009/133/EC,\n(b) “company” means an entity listed as a company in Part A of Annex I to the Mergers Directive,\n(ba) “relevant state” means the United Kingdom or a member State, and\n(c) “transparent entity” means an entity which is resident in a member State ... and is listed as a company in Part A of Annex I to the Mergers Directive, but—\n(i) does not have an ordinary share capital (within the meaning given by section 1119 of CTA 2010), and\n(ii) if it were resident in the United Kingdom, would not be capable of being a company within the meaning given by the Companies Act 2006.\n(2) For the purposes of those sections and subsection (1) above, a company is resident in a relevant state if—\n(a) it is within a charge to tax under the law of the relevant state as being resident for that purpose, and\n(b) it is not regarded, for the purposes of any double taxation relief arrangements to which the relevant state is a party, as resident in a territory not within a relevant state.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Ss. 140H-140L and cross-heading inserted (with effect in accordance with reg. 3(3) of the amending S.I.) by The Corporation Tax (Implementation of the Mergers Directive) Regulations 2007 (S.I. 2007/3186), reg. 1(2), Sch. 3 para. 1 (with S.I. 2008/1579, reg. 4(2))"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 140L(1) inserted (with effect in accordance with reg. 3 of the amending S.I.) by The Corporation Tax (Implementation of the Mergers Directive) Regulations 2008 (S.I. 2008/1579), reg. 1(2), Sch. 1 para. 7"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in s. 140L(1)(a) substituted (1.7.2011) by The Corporation Tax (Implementation of the Mergers Directive) Regulations 2011 (S.I. 2011/1431), regs. 1(2), 2(3)(a)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in s. 140L(1)(b)(c) substituted (1.7.2011) by The Corporation Tax (Implementation of the Mergers Directive) Regulations 2011 (S.I. 2011/1431), regs. 1(2), 2(3)(b)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "S. 140L(1)(ba) inserted (31.12.2020) by The Taxes (Amendments) (EU Exit) Regulations 2019 (S.I. 2019/689), regs. 1, 6(12)(a)(i) (with regs. 39-41); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "Words in s. 140L(1)(c) omitted (31.12.2020) by virtue of The Taxes (Amendments) (EU Exit) Regulations 2019 (S.I. 2019/689), regs. 1, 6(12)(a)(ii) (with regs. 39-41); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "Words in s. 140L(1)(c)(i) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 235 (with Sch. 2)"
    },
    {
      "type": "F",
      "label": "F8",
      "text": "S. 140L(2) substituted (31.12.2020) by The Taxes (Amendments) (EU Exit) Regulations 2019 (S.I. 2019/689), regs. 1, 6(12)(b) (with regs. 39-41); 2020 c. 1, Sch. 5 para. 1(1)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1992/12/section/140L",
    "retrieved_at": "2026-10-29T09:36:15.270072+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."
}