SCHEDULES
SCHEDULE 25Transfers of income streams
Part 1Company transferors
6Interpretation
1
For the purposes of this Part—
a
the grant or surrender (or renunciation) of a lease of land is to be regarded as a transfer of the land,
b
the disposal of an interest in an oil licence (within the meaning of section 809 of CTA 2009) is to be regarded as a transfer of the oil licence, and
c
the grant or disposal of an interest in intellectual property (within the meaning of section 712(3) of CTA 2009) which constitutes a pre-2002 asset (within the meaning of section 881 of that Act) is to be regarded as a transfer of that intellectual property.
2
The Treasury may by order make other provision for securing that other transactions are to be regarded as transfers of assets for those purposes.
3
In this Part—
a
references to a transfer include sale, exchange, gift and assignment (or assignation) and any other arrangement which equates in substance to a transfer, and
b
references to a transfer taking place are, in the case of an arrangement other than a sale, exchange, gift or assignment (or assignation), to the making of the arrangement.
4
A transfer to or by any partnership of which the transferor or transferee is a member, and a transfer to the trustees of any trust of which the transferor is a beneficiary, counts as a transfer in relation to which this Part applies.