Section 356OQ | “Disposal”

(1)In this Part references to a “disposal” of any property include any case in which the property is effectively disposed of (whether wholly or in part, as mentioned in subsection (2))—

(a)by one or more transactions, or

(b)by any arrangement.

(2)For the purposes of this Part—

(a)references to a disposal of land or any other property include a part disposal of the property, and

(b)there is a part disposal of property (“the asset”) where on a person making a disposal, any form of property derived from the asset remains undisposed of (including in cases where an interest or right in or over the asset is created by the disposal, as well as where it subsists before the disposal).