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10U.K.In section 198 (replacement of business assets used in connection with oil fields), for subsection (3) substitute—
“(3)Where—
(a)section 152 or 153 applies in relation to any of the consideration on a material disposal, and
(b)the asset which constitutes the new assets for the purposes of that section is a depreciating asset,
section 154(2)(b) is to have effect as if the reference to a trade carried on by the claimant were a reference solely to the claimant's ring fence trade.”