the transferee ceases to be a member of the relevant group just because of a distribution which is exempt F1as a result of section 1075 of CTA 2010 (exempt distributions), and

there is a chargeable payment within the meaning of F2section 1088(1) of CTA 2010 (chargeable payments connected with exempt distributions) within 5 years after the making of the distribution.

the transferee had assigned its rights and liabilities under the relevant derivative contract immediately before that chargeable payment was made,

the assignment had been for consideration of an amount equal to their fair value immediately before the transferee ceased to be a member of the relevant group, and

the transferee had immediately reacquired them for consideration of the same amount.