72Substantial shareholder exemption: oil and gasU.K.
This section has no associated Explanatory Notes
(1)In Schedule 7AC to TCGA 1992 (exemption for disposals by companies with substantial shareholding), in paragraph 15A (effect of transfer of trading assets within a group), after sub-paragraph (2) insert—
“(2A)For the purposes of sub-paragraph (2)(b) and (d), “trade” includes oil and gas exploration and appraisal.”
(2)The amendment made by this section has effect in relation to disposals made on or after 1 April 2014.