SCHEDULES

SCHEDULE 9 U.K. Taxation provisions relating to nuclear transfer schemes

Part 2 U.K. Transfers relating to BNFL or the UKAEA etc.

Chargeable gains: disposal of debts U.K.

20 (1) This paragraph applies if— U.K.

(a) a debt owed to any person is transferred by a transfer to which this Part of this Schedule applies; and

(b) the transferor would (apart from this paragraph) be the original creditor in relation to that debt for the purposes of section 251 of the 1992 Act (disposal of debts).

(2) The 1992 Act is to have effect as if the transferee (and not the transferor) were the original creditor for those purposes.

Commencement Information

I1 Sch. 9 para. 20 in force at 5.10.2004 by S.I. 2004/2575, art. 2(1), Sch. 1