[F11(1)This Schedule sets out how sections 152 and 153 and other related enactments are modified for the purposes of section 179B (roll-over of degrouping charge on business assets).U.K.
(2)In the enactments as so modified—
“company A” and “company B” have the same meanings as in section 179;
“relevant asset” means the asset mentioned in section 179B(1);
“deemed sale” means the sale of the relevant asset that is treated as taking place by virtue of section 179(3) or (6);
“deemed sale consideration” means the amount for which company A is treated as having sold the relevant asset;
“time of accrual” means—
(a)in a case where section 179(3) applies, the time at which, by virtue of section 179(4), the gain or loss accruing on the deemed sale is treated as accruing to company A;
(b)in a case where section 179(6) applies, the latest time at which the company satisfies the conditions in section 179(7).]
Textual Amendments
F1Sch. 7AB inserted (with application in accordance with s. 43(4) of the amending Act) by Finance Act 2002 (c. 23), s. 43(2), Sch. 7