Point in time view as at 01/04/2010.
Greater London Authority Act 1999, Cross Heading: Chargeable gains: the share transfer to the private sector company is up to date with all changes known to be in force on or before 10 March 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.
8E+W+SFor the purposes of the M1Taxation of Chargeable Gains Act 1992, where pursuant to a PPP agreement there is a transfer of shares of a PPP company—
(a)from London Regional Transport or any of its subsidiaries,
(b)to a private sector company,
the transfer shall be deemed, in relation to the private sector company as well as the transferor, to be for a consideration such that neither a gain nor a loss accrues to the transferor.
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