3(1)For the purposes of any enactment about income tax or corporation tax, LBRO and the LBRO company are to be treated as the same person.
(2)In particular, the transfers effected by paragraphs 1 and 2 are to be disregarded for those purposes.
(3)Accordingly, those transfers are not to be regarded for the purposes of Schedule 29 to the Finance Act 2002 (c. 23) (gains and losses from intangible fixed assets) as involving any realisation of an asset by the LBRO company or acquisition of an asset by LBRO.
(4)No transfer effected by paragraph 2 is to give rise to any liability to stamp duty land tax.