20 Original market value and aggregate market value for purposes of section 19
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

20  Original market value and aggregate market value for purposes of section 19

(1)     This section has effect for determining the original market value of assets and the aggregate market value of assets as mentioned in subsection (1)(b) of section 19.

(2)     Expressions used in this section have the same meaning as in that section.

(3)     Where there is a series of linked transactions, the original market value of the assets disposed of by each transaction in the series shall be determined as follows—

(a)     if at the time in question the transaction is the most recent in the series, the original market value of the assets disposed of by that transaction is the market value which, apart from section 19, would be deemed to be the consideration for that transaction for the purposes of this Act; and

(b)     in the case of any other transaction in the series, the original market value of the assets disposed of by that transaction is the value which, prior to the occurrence of the most

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