[236N Limited participation requirement]
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

[236N  Limited participation requirement]

[(1)     The limited participation requirement is met if Conditions A and B are met.

(2)     Condition A is that there was no time in the period of 12 months ending immediately after the disposal mentioned in section 236H(1) when—

(a)     P was a participator in C, and

(b)     the participator fraction exceeded 2/5.

(3)     Condition B is that the participator fraction does not exceed 2/5 at any time in the period beginning with that disposal and ending at the end of the tax year in which it occurs.

(4)

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