SCHEDULES

SCHEDULE 12 Broadcasting: Transfer of Undertakings of Independent Broadcasting Authority and Cable Authority

Transfer of shares from Commission to Channel 4 company: chargeable gains

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(1)

For the purposes of the F11992 Act the transfer by the principal Act of shares in the Channel 4 company from the Commission to the Channel Four Television Corporation shall be deemed to be for a consideration such that no gain or loss accrues to the Commission.

(2)

In sub-paragraph (1) “the Channel 4 company” means the body corporate referred to in section 12(2) of the M1Broadcasting Act 1981.