Part 4 U.K.Transfer of Nuclear Liabilities Investment Portfolio
Application of Part 4 of ScheduleU.K.
31U.K.This Part of this Schedule applies to a transfer to the Secretary of State in accordance with a nuclear transfer scheme containing provision authorised by section 42 of this Act.
Commencement Information
I1Sch. 9 para. 31 in force at 5.10.2004 by S.I. 2004/2575, art. 2(1), Sch. 1
Chargeable gains: assets to be treated as disposed without a gain or a lossU.K.
32(1)This paragraph applies for the purposes of the 1992 Act where an asset is transferred by a transfer to which this Part of this Schedule applies.U.K.
(2)The asset shall be treated as disposed of to the Secretary of State for a consideration of such amount as would secure that, on the disposal, neither a gain nor a loss accrues to BNFL.
Commencement Information
I2Sch. 9 para. 32 in force at 5.10.2004 by S.I. 2004/2575, art. 2(1), Sch. 1
Neutral effect of transfer for loan relationships and derivative contractsU.K.
33U.K.No credit or debit shall be required or allowed, in respect of a transfer to which this Part of this Schedule applies, to be brought into account in BNFL’s case—
(a)for the purposes of [F1Part 5 of the Corporation Tax Act 2009] (loan relationships); or
(b)for the purposes of [F2Part 7 of the Corporation Tax Act 2009].
Textual Amendments
F1Words in Sch. 9 para. 33(a) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 586(9)(a) (with Sch. 2 Pts. 1, 2)
F2Words in Sch. 9 para. 33(b) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 586(9)(b) (with Sch. 2 Pts. 1, 2)
Commencement Information
I3Sch. 9 para. 33 in force at 5.10.2004 by S.I. 2004/2575, art. 2(1), Sch. 1