Section 103 | Business assets: roll-over relief.

(1)Section 193 of the Taxation of Chargeable Gains Act 1992 (roll-over relief not available for gains on oil licences) shall cease to have effect.

(2)This section has effect in relation to—

(a)a disposal of a licence or an interest in a licence which occurs on or after 1st July 1999;

(b)an acquisition of a licence or an interest in a licence which occurs on or after 1st July 1999.