SCHEDULES

SCHEDULE 24 Provisions relating to the Railways Act 1993

Chargeable gains: assets held before 6th April 1965

10

Schedule 2 to the Gains Act (assets held on 6th April 1965) shall have effect in relation to any assets which vest in the transferee by virtue of a relevant transfer as if—

a

the predecessor and the transferee were the same person; and

b

those assets, to the extent that they were in fact acquired or provided by the predecessor, were acquired or, as the case may be, provided by the transferee.