Part VI Transfers of Franchise Assets
Transport Act 2000 (2000 c 38) | Legislation

Part VI Transfers of Franchise Assets

Interpretation

30

In this Part of this Schedule—

“relevant transfer†means a transfer of property, rights or liabilities by virtue of a scheme under paragraph 2 of Schedule 21 under which the property, rights or liabilities are transferred from a person which is, or has been, a franchise company,

“transfereeâ€, in relation to a relevant transfer, means the person to whom the property, rights or liabilities are transferred, and

“transferorâ€, in relation to a relevant transfer, means the person from whom the property, rights or liabilities are transferred.

Chargeable gains: disposals not to be treated as made at market value

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(1)     Section 17 of the 1992 Act (disposals and acquisitions treated as made at market value) is not to have effect in relation to—

(a)     a disposal constituted by a relevant transfer or a disposal by virtue of provision made under paragraph 5 of Schedule 21, or

(b)     the acquisition made by the person to whom the disposal is made.

(2)     But sub-paragraph (1) does not apply—

(a)     if the person making the disposal is connected with the person making the acquisition, or

(b)     in the

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