Chwilio Deddfwriaeth

Coal Industry Act 1994

 Help about what version

Pa Fersiwn

 Help about advanced features

Nodweddion Uwch

 Help about opening options

Dewisiadau AgorExpand opening options

Changes over time for: Cross Heading: Chargeable gains: group transactions

 Help about opening options

Alternative versions:

Status:

Point in time view as at 22/08/1996.

Changes to legislation:

Coal Industry Act 1994, Cross Heading: Chargeable gains: group transactions is up to date with all changes known to be in force on or before 18 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

Chargeable gains: group transactionsU.K.

8(1)For the purposes of section 179 of the 1992 Act (company ceasing to be a member of a group) where by virtue of any relevant transfer any company—U.K.

(a)ceases to be a member of the same group of companies as the predecessor, but

(b)becomes a member of the same group of companies as the transferee,

that company shall not under that section be treated, in consequence of having so ceased, as at any time having sold, and immediately reacquired, any asset acquired from a company which is or has been a member of the former group.

(2)Subject to sub-paragraph (3) below, where sub-paragraph (1) above applies, or but for subsection (2) of section 179 of the 1992 Act would apply, as respects any acquisition of any asset and the company that acquired the asset ceases to be a member of the same group of companies as the transferee, that section shall have effect as if—

(a)that asset had been acquired from the transferee; and

(b)that company had been a member of the same group of companies as the transferee when it was so acquired;

and where, for the purposes of that subsection, this sub-paragraph applies as respects more than one of a number of successive acquisitions of any asset, the fact that each is to be treated as an acquisition from the same person shall be disregarded.

(3)Where—

(a)any asset has been acquired by any company (“the leaving company”) from another company,

(b)both of those companies cease at the same time to be members of the same group of companies as the transferee, and

(c)those companies are associated companies both immediately before and immediately after that time,

sub-paragraph (2) above shall not apply as respects the acquisition of the asset by the leaving company.

(4)Expressions used in this paragraph and in section 179 of the 1992 Act shall have the same meanings in this paragraph as in that section.

Yn ôl i’r brig

Options/Help

You have chosen to open The Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act as a PDF

The Whole Act you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open y Ddeddf Gyfan

Y Ddeddf Gyfan you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?