SCHEDULES
SCHEDULE 9Taxation provisions relating to nuclear transfer schemes
Part 1Transfers to the NDA or a subsidiary of the NDA
Continuity in relation to transfer of intangible assets
I113
1
Where—
a
property is transferred in accordance with a section 39 scheme to the NDA or a subsidiary of the NDA, and
b
the property transferred includes a chargeable intangible asset of the transferor,
the transfer of that asset is to be treated for the purposes of Schedule 29 to the Finance Act 2002 as a tax neutral transfer.
2
Where, in the case of a transfer in accordance with a section 39 scheme of any property to the NDA or a subsidiary of the NDA—
a
the property transferred includes an asset which is not a chargeable intangible asset of the transferor, but
b
that asset falls to be treated after the transfer as a chargeable intangible asset of the NDA or its subsidiary,
that asset shall be treated as acquired by the NDA or its subsidiary for an amount equal to the amount of the consideration determined for the purposes of paragraph 3(2) of this Schedule.
3
Expressions used in this paragraph and in Schedule 29 to the Finance Act 2002 have the same meanings in this paragraph as in that Schedule.