Section FO 14 — Income Tax Act 2007: Financial arrangements: resident’s restricted amalgamation, other cases

FO 14 Financial arrangements: resident’s restricted amalgamation, other cases When this section applies (1) This section applies in an income year in which a financial arrangement belonging to an amalgamating company passes to the amalgamated company on a resident’s restricted amalgamation when sections FO 12 and FO 13 do not apply. Market value (2) The amalgamating company is treated as having disposed of the financial arrangement. The consideration for the disposal is the market value of the financial arrangement on the date the amalgamated company acquires it. Defined in this Act: amalgamated company , amalgamating company , consideration , financial arrangement , income year , market value , resident’s restricted amalgamation , Compare: 2004 No 35 ss FE 6(5), (8) , FE 7(1)(b), (4)