(1)All forms of property shall be assets for the purposes of this Act, whether situated in the United Kingdom or not, including—
(a)options, debts and incorporeal property generally, and
[F1(b)currency, with the exception (subject to express provision to the contrary) of sterling,]
(c)any form of property created by the person disposing of it, or otherwise coming to be owned without being acquired.
(2)For the purposes of this Act—
(a)references to a disposal of an asset include, except where the context otherwise requires, references to a part disposal of an asset, and
(b)there is a part disposal of an asset where an interest or right in or over the asset is created by the disposal, as well as where it subsists before the disposal, and generally, there is a part disposal of an asset where, on a person making a disposal, any description of property derived from the asset remains undisposed of.
Textual Amendments
F1S. 21(1)(b) substituted (19.7.2006) by Finance Act 2006 (c. 25), Sch. 12 para. 9
Modifications etc. (not altering text)
C1S. 21(2) applied (8.11.1995) by Atomic Energy Authority Act 1995 (c. 37), Sch. 3 para. 4(2)