[151B Venture capital trusts: supplementary]
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

[151B  Venture capital trusts: supplementary]

[(1)     Sections 104, 105 and [106A] shall not apply to any shares in a venture capital trust which are eligible for relief under section 151A(1).

(2)     Subject to the following provisions of this section, where—

(a)     an individual holds any ordinary shares in a venture capital trust,

(b)     some of those shares fall within one of the paragraphs of subsection (3) below, and

(c)     others of those shares fall within at least one other of those paragraphs,

then, if there is within the meaning of section 126 a reorganisation affecting those shares, section 127 shall apply separately in relation to the shares (if any) falling within each of the paragraphs of that subsection (so that shares of each kind are treated as a separate holding of original shares and identified with a separate new holding).

(3)     The kinds of shares referred to in subsection (2) above are—

(a)     any shares in a venture capital trust which are eligible for relief under section 151A(1) and by reference to which any person has [obtained]

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