[F1198BRing fence reinvestment: part of consideration reinvestedU.K.
(1)This section applies if a person (“P”) makes a disposal and acquisition which—
(a)is a ring fence reinvestment, and
(b)qualifies for section 153 relief.
(2)P may make a claim under this section in relation to the disposal and acquisition.
(3)If P makes a claim under this section—
(a)section 153(1)(a) applies in relation to P and the disposal, but
(b)section 153(1)(b) does not apply to P and the acquisition.]
Textual Amendments
F1Ss. 198A-198G inserted (with effect in accordance with Sch. 40 para. 13 of the amending Act) by Finance Act 2009 (c. 10), Sch. 40 para. 12