Section 198B | Ring fence reinvestment: part of consideration reinvested ^F1

(1)This section applies if a person (“P”) makes a disposal and acquisition which—

(a)is a ring fence reinvestment, and

(b)qualifies for section 153 relief.

(2)P may make a claim under this section in relation to the disposal and acquisition.

(3)If P makes a claim under this section—

(a)section 153(1)(a) applies in relation to P and the disposal, but

(b)section 153(1)(b) does not apply to P and the acquisition.