Chargeable gains: assets to be treated as disposed of without a gain or a loss
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22(1)For the purposes of TCGA 1992 a disposal—
(a)constituted by a relevant transfer, or
(b)to which sub-paragraph (2) applies,
is to be taken to be for a consideration such that no gain or loss accrues to the person making the disposal.
(2)This sub-paragraph applies to a disposal if—
(a)it is made in accordance with provision contained in a transfer scheme by virtue of paragraph 4, 6 or 12 of Schedule 12 to this Act,
(b)the person making the disposal is a taxable public body,
(c)the person to whom the disposal is made is an exempt public body, and
(d)each of those persons is either the transferor or a transferee under the scheme.