Section 267 | Construction of references to being “held continuously”

(1)This section applies if for the purposes of this Part it becomes necessary to determine whether the investor has held the investment (or any part of it) continuously throughout any period.

(2)The investor is not treated as having held the investment (or any part of it) continuously throughout a period if the investor—

(a)is treated, under any provision of TCGA 1992, as having disposed of and immediately re-acquired the investment (or part) at any time during the period, or

(b)is treated as having disposed of the investment (or part) at any such time, by virtue of section 266(2) above.