Section 170 | Meaning of “sale” and related expressions

(1)In sections 164 to 167 (except in section 167(5)) references to a sale include a transfer for valuable consideration.

(2)In relation to a transfer which is not a sale—

“amount realised on the sale” means the value of the consideration given for the transfer,

“buyer” means the person to whom the transfer is made, and

“seller” means the person who makes the transfer.