SCHEDULE 9Taxation provisions relating to nuclear transfer schemes
Part 2Transfers relating to BNFL or the UKAEAetc.
Application of Part 2 of Schedule
16
(1)
This Part of this Schedule applies to a transfer if—
(a)
it is a transfer in accordance with a section 39 scheme of securities of a BNFL company or of property, rights or liabilities of a BNFL company; and
(b)
the transferee is a publicly owned company which is not a subsidiary of the NDA.
(2)
This Part of this Schedule also applies to a transfer if it is a transfer in accordance with a section 39 scheme to a transferee falling within sub-paragraph (3) of—
(a)
property, rights or liabilities of the UKAEA;
(b)
securities of a wholly-owned subsidiary of the UKAEA; or
(c)
property, rights or liabilities of such a subsidiary.
(3)
The transferee falls within this sub-paragraph if it is—
(a)
a publicly owned company which is not a subsidiary of the NDA; or
(b)
the UKAEA.
(4)
In this paragraph “BNFL company” means BNFL or a wholly-owned subsidiary of BNFL.