- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
(1)Subject to subsection (3) below, where—
(a)there is a disposal by a company of a linked company debt on a security owed by another company, and
(b)the 2 companies are linked companies immediately before the disposal,
there shall be no indexation allowance on the disposal.
(2)Subject to subsection (3) below, where—
(a)there is a disposal by a company of a debt on a security owed by another company which is not a linked company debt on a security, and
(b)the 2 companies are linked companies immediately before the disposal,
then, in ascertaining any indexation allowance due on the disposal, RD as defined in section 54(1) shall be taken as the retail price index for the first month after the acquisition of the debt in which the 2 companies were linked companies (or, if later, March 1982).
(3)Where—
(a)there is a disposal by a company of a debt on a security owed by another company,
(b)the debt constituted or formed part of the new holding received by the company making the disposal on a reorganisation, and
(c)subsection (1) or (2) above would apply in relation to the disposal but for this subsection,
neither of those subsections shall apply in relation to the disposal, but any indexation allowance which, apart from this subsection, would be due on the disposal shall be reduced by such amount as appears to the inspector, or, on appeal, the Commissioners concerned, to be just and reasonable.
(4)For the purposes of this section a debt on a security owed by a company is a linked company debt on a security where immediately after its acquisition by the company making the disposal the 2 companies were linked companies.
(5)Where—
(a)there is a disposal by a company of a debt on a security owed by any person,
(b)the company and that person are not linked companies immediately before the disposal, and
(c)the debt was incurred by that person as part of arrangements involving another company being put in funds,
subsections (1) to (4) above shall have effect if and to the extent that they would if the debt were owed by that other company.
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