Taxation of Chargeable Gains Act 1992, Paragraph 5 is up to date with all changes known to be in force on or before 07 March 2025. 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.
[F15U.K.The fourth condition is that—
(a)the scheme is carried out in pursuance of a compromise or arrangement—
[F2(i)to which Part 26 [F3or 26A] of the Companies Act 2006 (arrangements and reconstructions) applies,]
(ii)under any corresponding provision of the law of a country or territory outside the United Kingdom, and
(b)no part of the business of the original company, or of any of the original companies, is transferred under the scheme to any other person.]
Textual Amendments
F1Sch. 5AA inserted (with effect in accordance with Sch. 9 paras. 7, 8 of the amending Act) by Finance Act 2002 (c. 23), Sch. 9 para. 3
F2Sch. 5AA para. 5(a)(i) substituted (6.4.2008) by The Companies Act 2006 (Consequential Amendments) (Taxes and National Insurance) Order 2008 (S.I. 2008/954), arts. 1(1), 17 (with art. 4)
F3Words in Sch. 5AA para. 5(a)(i) inserted (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 9 para. 14 (with ss. 2(2), 5(2))
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