SCHEDULES
SCHEDULE 10Amendment of enactments that operate by reference to accounting practice
Part 1Loan relationships
Main computational provisions
9
F11
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2
Where at the relevant time a company holds an asset to which section 92 applies—
a
section 92(7) (deemed disposal and re-acquisition) shall have effect as if the asset had ceased at that time to be an asset to which that section applied (but without ceasing to represent a creditor relationship of the company), and
b
any amount falling to be brought into account under the Taxation of Chargeable Gains Act 1992 (c. 12) shall be brought into account in accordance with section 92(4) accordingly.
3
The relevant time for this purpose is immediately before the end of the last period of account before that in relation to which sub-paragraph (1) has effect (see section 52(3) of this Act).