122 Distribution which is not a new holding within Chapter II
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

Capital distribution in respect of shares etc

122  Distribution which is not a new holding within Chapter II

(1)     Where a person receives or becomes entitled to receive in respect of shares in a company any capital distribution from the company (other than a new holding as defined in section 126) he shall be treated as if he had in consideration of that capital distribution disposed of an interest in the shares.

[(1A)     Subsection (1) is subject to the provisions of section 140A(1D) and section 140E(7).]

(2)     If .Ìý.Ìý. the amount distributed is small, as compared with the value of the shares in respect

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