Finance Act 1982

148 Transfer of assets of Hops Marketing Board

(1) For the purposes of the [1979 c. 14.] Capital Gains Tax Act 1979, the transfer by virtue of the [1982 c. 5.] Hops Marketing Act 1982 of any asset from the Hops Marketing Board to any person or persons specified as mentioned in section 2(1) of that Act (in this section referred to as " the transferee ") shall be deemed to be for a consideration such that no gain or loss accrues to the Board ; and Schedule 5 to the Capital Gains Tax Act 1979 shall have effect in relation to any asset so transferred as if the acquisition or provision of it by the Board had been the acquisition or provision of it by the transferee.

(2) Any transfer by virtue of the [1982 c. 5.] Hops Marketing Act 1982 of any interest in land from the Hops Marketing Board to the transferee shall be deemed to be a disposal to which subsection (1) of section 20 of the [1976 c. 24.] Development Land Tax Act 1976 (groups of companies) applies.