Part 12 Supplementary provisions
Chapter 6 Final provisions
General interpretation
573 Transfers treated as sales
1
This section applies for the purposes of Parts 3, 4 F1, 4A and 10 and other provisions of this Act relevant to those Parts if—
a
there is a transfer of the interest which is the relevant interest for the purposes of the Part in question, and
b
the transfer is not a sale.
2
The transfer is treated as a sale of the relevant interest.
3
The sale is treated as being at market value, subject to any election under section 569 (election to treat sale as being for alternative amount).
4
This section does not apply if section 561 applies (transfer of a UK trade to a company resident in another member State).