SCHEDULE 5
Farming: provisions applicable to special cases
5
(1)
Where a farmer transfers to another person all or any of the animals which form part of a production herd otherwise than by way of sale or by way of sale but for a price other than that which they would have fetched if sold in the open market, and either—
(a)
the transferor is a body of persons over whom the transferee has control or the transferee is a body of persons over whom the transferor has control or both the transferor and the transferee are bodies of persons and some other person has control over both of them; or
(b)
it appears with respect to the transfer, or with respect to transactions of which the transfer is one that the sole or main benefit, or one of the main benefits, which (apart from the provisions of this paragraph) might have been expected to accrue to the parties or any of them was a benefit resulting from—
(i)
the obtaining of a right to make an election for the herd basis, or
(ii)
such an election having effect or ceasing to have effect, or
(iii)
such an election having a greater effect or a less effect;
(2)
In this paragraph “body of persons” includes a partnership, and “control” has the meaning given by section 840.