Section 44 | Exemptions for disposals by companies with substantial shareholding

(1)In Chapter 1 of Part 6 of the Taxation of Chargeable Gains Act 1992 (c. 12) (provisions relating to chargeable gains of companies), after section 192 insert—

192AExemptions for gains or losses on disposal of shares etc

.

(2)Schedule 8 to this Act (exemptions for disposals by companies with substantial shareholding) has effect. In that Schedule—

(3)This section and Schedule 8 to this Act apply in relation to disposals on or after 1st April 2002.

(4)Paragraph 38 of the Schedule 7AC inserted by that Schedule (degrouping: time when deemed sale and reacquisition treated as taking place) has effect where the time of degrouping or relevant time (as defined for the purposes of that paragraph) is on or after that date.

(5)The amendment made by paragraph 2 of Schedule 8 to this Act has effect where the company in question ceases to be a member of the group in question on or after that date.