[101A Transfer within group to investment trust]
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

[101A  Transfer within group to investment 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 an investment trust, and

(c)     the conditions set out in subsection (2) below are satisfied by the acquiring company.

(2)     Those conditions are satisfied by the acquiring company if—

(a)     it becomes an investment trust for an accounting period beginning not more than 6 years after the time of the disposal,

(b)     at the beginning of that accounting period, it owns, otherwise than as trading stock—

(i)     the asset, or

(ii)     property to which a chargeable

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