Section 879G | The preserved status condition etc ^F1

(1)For the purposes of section 879F the other asset meets the preserved status condition if subsection (2) or (3) applies.

(2)This subsection applies if the other asset—

(a)was acquired or created by a company during the period beginning with 8 July 2015 and ending with 31 March 2019, and

(b)was a chargeable intangible asset in the hands of that company at any time during the period beginning with 29 October 2018 and ending with 31 March 2019 when—

(i)that company and C were related parties, or

(ii)that company and the transferor were related parties.

(3)This subsection applies if the other asset was a pre-FA 2019 relevant asset in the hands of a company at any time during the period beginning with 1 April 2019 and ending with the acquisition mentioned in section 879F(1)(b) when—

(a)that company and C were related parties, or

(b)that company and the transferor were related parties.

(4)It does not matter for the purposes of section 879F(1)(a) who created the relevant asset.

(5)Any apportionment necessary for the purposes of section 879F(2) must be made on a just and reasonable basis.

(6)Section 879E(4) to (7) applies for the purposes of section 879F and this section.

(7)Expressions used in this section have the same meaning as in section 879F.