SCHEDULES
SCHEDULE 12 Broadcasting: Transfer of Undertakings of Independent Broadcasting Authority and Cable Authority
Disposal by IBA of DBS assets to DBS programme contractor: chargeable gains
3
(1)
For the purposes of the 1979 Act the disposal under the principal Act of any relevant asset by the IBA to a DBS programme contractor shall be deemed to be for a consideration such that no gain or loss accrues to the IBA.
(2)
In this paragraph—
(a)
“relevant asset” means any equipment or other asset (of whatever description) which has been used or held by the IBA in connection with the transmission of DBS services; and
(b)
“DBS programme contractor” and “DBS service” have the meaning given by section 37(3) of the M1Cable and Broadcasting Act 1984.