Section 356ON | Relevance of transactions, arrangements, etc ^F1

(1)In determining whether section 356OC(1) or 356OE(1) applies, account is to be taken of any method, however indirect, by which—^F1

(a)any property or right is transferred or transmitted, or^F1

(b)the value of any property or right is enhanced or diminished.^F1

(2)Accordingly—^F1

(a)the occasion of the transfer or transmission of any property or right, however indirect, and^F1

(b)the occasion when the value of any property or right is enhanced,^F1

may be an occasion on which section 356OC(1) or 356OE(1) applies.

(3)Subsections (1) and (2) apply in particular—^F1

(a)to sales, contracts and other transactions made otherwise than for full consideration or for more than full consideration,^F1

(b)to any method by which any property or right, or the control of any property or right, is transferred or transmitted by assigning—^F1

(i)share capital or other rights in a company,^F1

(ii)rights in a partnership, or^F1

(iii)an interest in settled property,^F1

(c)to the creation of an option affecting the disposition of any property or right and the giving of consideration for granting it,^F1

(d)to the creation of a requirement for consent affecting such a disposition and the giving of consideration for granting it,^F1

(e)to the creation of an embargo affecting such a disposition and the giving of consideration for releasing it, and^F1

(f)to the disposal of any property or right on the winding up, dissolution or termination of a company, partnership or trust.^F1