279 Conditions relating to value of investments: qualifying holdings
Income Tax Act 2007 (2007 c 3) | Legislation

279  Conditions relating to value of investments: qualifying holdings

(1)     If—

(a)     any shares (“new shares”) are exchanged for other shares (“old shares”) under arrangements in relation to which section 326 (restructuring arrangements) applies, and

(b)     those arrangements have not ceased by virtue of section 326(5) to be arrangements by reference to which requirements of Chapter 4 are treated as met,

the value of the new shares is taken to be the same as the value, when last valued in accordance with subsection (2) or (3)

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