[198E Ring fence reinvestments and disposal consideration]
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

[198E  Ring fence reinvestments and disposal consideration]

[(1)     This section applies for the purposes of sections 198A to 198G.

(2)     A disposal and acquisition is a ring fence reinvestment if—

(a)     the disposal was—

(i)     a material disposal, or

(ii)     a disposal of a UK licence which relates to an undeveloped area,

(b)     the old assets were used only for the purposes of P's ring fence trade,

(c)     the new assets are taken into use, and used only, for the purposes of one or more of the following trades—

(i)     P's ring fence trade;

(ii)     if

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