192 Tax exempt distributions
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

Demergers

192  Tax exempt distributions

(1)     This section has effect for facilitating certain transactions whereby trading activities carried on by a single company or group are divided so as to be carried on by 2 or more companies not belonging to the same group or by 2 or more independent groups.

(2)     Where a company makes [a distribution which is exempt by virtue of section 1076 of CTA 2010]—

(a)     the distribution shall not be a capital distribution for the purposes of section 122;

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