[686 Excluded circumstances: fundamental change of ownership]
Income Tax Act 2007 (2007 c 3) | Legislation

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[686  Excluded circumstances: fundamental change of ownership]

[(1)     Circumstances are excluded by this section if—

(a)     immediately before the transaction in securities (or the first of the transactions in securities) [the party] holds shares or an interest in shares in the close company, and

(b)     there is a fundamental change of ownership of the close company.]

[(2)     There is a fundamental

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