Part III Transfers from BR to SRA
Transport Act 2000 (2000 c 38) | Legislation

Part III Transfers from BR to SRA

Interpretation

8

In this Part of this Schedule—

“relevant transfer†means a transfer of property, rights or liabilities by virtue of—

(a)     paragraph 11 of Schedule 18, or

(b)     a scheme under paragraph 1 of Schedule 19,

“transfereeâ€, in relation to a relevant transfer, means the Authority, and

“transferorâ€, in relation to a relevant transfer, means the Board.

Chargeable gains: general

9

For the purposes of the 1992 Act a disposal—

(a)     constituted by a relevant transfer, or

(b)     by virtue of provision made under paragraph 4 of Schedule 19,

is to be taken (in relation to the person to whom the disposal is made as well as the person making the disposal) to be for a consideration such that no gain or loss accrues to the person making the disposal.

Chargeable gains: restriction of losses

10

(1)     If there has been a disposal of an asset—

(a)     constituted by a relevant transfer, or

(b)     by virtue of provision made under paragraph 4 of Schedule 19,

subsection (8) of section 41 of the 1992 Act (which applies that section to cases

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