# Trustee Savings Banks Act 1985, Paragraph 2

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

(1) For the purposes of the 1992 Act, the transfer of any assets effected by section 3 above shall be deemed to be for a consideration such that no gain or loss accrues to the transferor.
(2) Schedule 2 to the 1992 Act shall have effect in relation to any asset so transferred as if the acquisition or provision of it by the transferor had been the acquisition or provision of it by the transferee.
(3) In paragraph 3 of Schedule 13 to the Finance Act 1982 (indexation: subsequent disposals following no gain/no loss disposals), the following shall be added at the end of sub-paragraph (3)—
“(e) paragraph 2 of Schedule 2 to the Trustee Savings Banks Act 1985.”.

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Source: https://www.legislation.gov.uk/ukpga/1985/58/schedule/2/paragraph/2 (the official version)
Page: https://openlegislation.uk/trustee-savings-banks-act-1985/schedule-2/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.