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Taxation of Chargeable Gains Act 1992
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- UK Public General Acts
- 1992 c. 12
- SCHEDULE 5AA
- First condition: issue of...
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Changes over time for: Cross Heading: First condition: issue of ordinary share capital
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Changes to legislation:
Taxation of Chargeable Gains Act 1992, Cross Heading: First condition: issue of ordinary share capital is up to date with all changes known to be in force on or before 25 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to Schedule 5AA Crossheading First-condition-issue-of-ordinary-share-capital:
- Act applied by 2002 c. 23 Sch. 16 para. 48(1)(2)
- s. 4(10)(11) inserted by 2016 c. 11 s. 15(4)
Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
- Act applied by 2002 c. 23 Sch. 16 para. 48(1)(2)
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 4(10)(11) inserted by 2016 c. 11 s. 15(4)
[F1First condition: issue of ordinary share capitalU.K.
Textual Amendments
F1Sch. 5AA inserted (with effect in accordance with Sch. 9 paras. 7, 8 of the amending Act) by Finance Act 2002 (c. 23), Sch. 9 para. 3
2U.K.The first condition is that the scheme involves the issue of ordinary share capital of a company (“the successor company”) or of more than one company (“the successor companies”)—
(a)to holders of ordinary share capital of another company (“the original company”) or, where there are different classes of ordinary share capital of that company, to holders of one or more classes of ordinary share capital of that company (the classes “involved in the scheme of reconstruction”), or
(b)to holders of ordinary share capital of more than one other company (“the original companies”) or, where there are different classes of ordinary share capital of one or more of the original company or companies, to holders of ordinary share capital of any of those companies or of one or more classes of ordinary share capital of any of those companies (the classes “involved in the scheme of reconstruction”),
and does not involve the issue of ordinary share capital of the successor company, or (as the case may be) any of the successor companies, to anyone else.]
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