19 Deemed consideration in certain cases where assets disposed of in a series of transactions
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

19  Deemed consideration in certain cases where assets disposed of in a series of transactions

(1)     For the purposes of this Act, in any case where—

(a)     by way of 2 or more material transactions which are linked (a series of linked transactions), one person disposes of assets to another person with whom he is connected or to 2 or more other persons with each of whom he is connected, and

(b)     the original market value of the assets disposed of by any of the transactions in the series, as determined under section 20, is less than the appropriate portion of the aggregate market value of the assets disposed of by all the transactions in the series, as so determined,

then, subject to subsection (2) below, the disposal effected by any linked transaction in the series in respect of which the condition in paragraph (b) above is fulfilled shall

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