Part 19Sale and lease-back etc
Chapter 4Leased assets: capital sums
Obtaining of sum
879Disposal of interest to associate
1
This section applies for the purposes of this Chapter if a company disposes of an interest in an asset to a person who is the company's associate (and the interest may be the lessee's interest in a lease of the asset or the lessor's interest or any other interest).
2
The company disposing of the interest must be treated as obtaining in respect of it the greatest of—
a
the sum in fact obtained by the company,
b
the value of the interest in the open market, and
c
the value of the interest to the person to whom it is in effect transferred.
3
The disposal—
a
may be direct or indirect, and
b
may be effected by a transaction or series of transactions described in section 877(b) or 878(3).