135 Transfer within group to venture capital trust
Finance Act 1998 (1998 c 36) | Legislation

135  Transfer within group to venture capital trust

(1)     In section 171 of the Taxation of Chargeable Gains Act 1992 (transfers within a group), after the word “or” at the end of paragraph (c) of subsection (2) there shall be inserted the following paragraph—

“(cc)     a disposal by or to a venture capital trust; or”

(2)     After the section 101B of that Act inserted by section 134 above there shall be inserted the following section—

“101C Transfer within group to venture capital trust

(1)     This section applies where—

(a)     an asset has been disposed of to a company (the “acquiring company”) and the disposal has been treated by virtue of section 171(1) as giving rise to neither a gain nor a loss,

(b)     at the time of the disposal the acquiring company was not a venture capital trust, and

(c)     the conditions set out in subsection (2) below are satisfied

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