Part 7Community investment tax relief
Chapter 6Supplementary and general
Definitions
266Meaning of “disposal”
1
Subject to subsection (2), in this Part “disposal” is read in accordance with TCGA 1992, and related expressions are read accordingly.
2
An investor is treated as disposing of any securities or shares which but for section 151BC(1) of TCGA 1992 the investor—
a
would be treated as exchanging for other securities or shares by virtue of section 136 of that Act, or
b
would be so treated but for section 137(1) of that Act (which restricts section 136 to genuine reconstructions).