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Legislation
Taxation of Chargeable Gains Act 1992

Crossheading Reorganisations

  • Section 169VN Reorganisations where no consideration given
  • Section 169VO The appropriate number
  • Section 169VP Reorganisations where consideration given
  • Section 169VQ Exchange of shares for those in another company
  • Section 169VR New shares issued on scheme of reconstruction
  • Section 169VS Modification of conditions for being a qualifying share
  • Section 169VT Election to disapply section 127
  1. Reorganisations
  2. New shares issued on scheme of reconstruction

Section 169VR | New shares issued on scheme of reconstruction F1

From legislation.gov.uk

(1)This section applies where—

(a)section 136 applies in relation to an arrangement between a company (“company A”) and the persons holding shares, or any class of shares, in company A, under which another company (“company B”) issues shares to those persons, and

(b)under section 136(2)(a) those persons are treated as exchanging shares in company A for the shares held by them in consequence of the arrangement.

(2)For the purposes of sections 169VN to 169VP—

(a)companies A and B are to be treated as if they were the same company, and

(b)the exchange of shares is to be treated as if it were a reorganisation of that company's share capital.

(3)In the following provisions of this Chapter, any reference to an exchange of shares includes anything that section 136(2)(a) treats as an exchange of shares.

Notes

  1. F1

    Pt. 5 Ch. 5 inserted (15.9.2016) by Finance Act 2016 (c. 24), Sch. 14 para. 2

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