the transferee ceases to be a member of the relevant group just because of a distribution which is exempt F1as a result of section 1075 of CTA 2010 (exempt distributions), and

there is a chargeable payment within the meaning of F2section 1088(1) of CTA 2010 (chargeable payments connected with exempt distributions) within 5 years after the making of that distribution.

the transferee had assigned the asset or liability representing the relevant loan relationship immediately before the chargeable payment was made,

the assignment had been for consideration of an amount equal to the fair value of the asset or liability immediately before the transferee ceased to be a member of the relevant group, and

the transferee had immediately reacquired the asset or liability for consideration of the same amount.