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Corporation Tax Act 2010

Section 77: Section 76: supplementary

294.This section supplements section 76. It is new.

295.Subsection (1) determines the time of acquisition for the purposes of section 76 of shares issued in a reorganisation within the meaning of section 126 of TCGA to which section 127 of that Act applies. See Change 17in Annex 1.

296.Subsection (2) clarifies that shares held or disposed of by a nominee or bare trustee for a company are part of the company’s holding for the purposes of section 76. See Change 18in Annex 1.

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