Taxation of Chargeable Gains Act 1992 (c. 12)

SCHEDULES

[F1 SCHEDULE 5AA U.K. Meaning of “scheme of reconstruction”

Textual Amendments

F1 Sch. 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

Fourth condition: compromise or arrangement with members U.K.

5 U.K. The fourth condition is that—

(a) the scheme is carried out in pursuance of a compromise or arrangement—

[F2 (i) to which Part 26 of the Companies Act 2006 (arrangements and reconstructions) applies,]

(ii) under any corresponding provision of the law of a country or territory outside the United Kingdom, and

(b) no part of the business of the original company, or of any of the original companies, is transferred under the scheme to any other person.]

Textual Amendments

F2 Sch. 5AA para. 5(a)(i) substituted (6.4.2008) by The Companies Act 2006 (Consequential Amendments) (Taxes and National Insurance) Order 2008 (S.I. 2008/954), arts. 1(1), 17 (with art. 4)