SCHEDULE 7PARTNERSHIPS

PART 10INTERPRETATION

Transfer of a chargeable interest from a partnership

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For the purposes of this Schedule, there is a transfer of a chargeable interest from a partnership in any case where—

(a)

a chargeable interest that was partnership property ceases to be partnership property, or

(b)

a chargeable interest is granted or created out of partnership property and the interest is not partnership property.