[136 Scheme of reconstruction involving issue of securities]
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

[136  Scheme of reconstruction involving issue of securities]

[(1)     This section applies where—

(a)     an arrangement between a company (“company A”) and—

(i)     the persons holding shares in or debentures of the company, or

(ii)     where there are different classes of shares in or debentures of the company, the persons holding any class of those shares or debentures,

is entered into for the purposes of, or in connection with, a scheme of reconstruction, and

(b)     under the arrangement—

(i)     another company (“company B”) issues shares or debentures to those persons in respect of and in proportion to (or as nearly as may be in proportion to) their relevant holdings in company A, and

(ii)

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