http://www.legislation.gov.uk/id/ukpga/1990/29/schedule/12/enacted

SCHEDULES

SCHEDULE 12Broadcasting: Transfer of Undertakings of Independent Broadcasting Authority and Cable Authority

Transfer of Cable Authority’s assets to Commission: chargeable gains

4

For the purposes of the 1979 Act the transfer by the principal Act of any asset from the Cable Authority to the Commission shall be deemed to be for a consideration such that no gain or loss accrues to that Authority.