Section 757 — Corporation Tax Act 2010: Interpretation of Chapter

Interpretation of Chapter 757 1 For the purposes of this Chapter—

a the grant or surrender of a lease of land is to be regarded as a transfer of the land, b the disposal of an interest in an oil licence (within the meaning of section 809 of CTA 2009) is to be regarded as a transfer of the oil licence, and c the grant or disposal of an interest in intellectual property (within the meaning of section 712(3) of CTA 2009) which constitutes a pre-FA 2002 asset (within the meaning of section 881 of that Act) is to be regarded as a transfer of that intellectual property.

2 The Treasury may by order make other provision for securing that other transactions are to be regarded as transfers of assets for those purposes.

3 In this Chapter—

a references to a transfer include sale, exchange, gift and assignment and any other arrangement which equates in substance to a transfer, and b references to a transfer taking place are, in the case of an arrangement other than a sale, exchange, gift or assignment, to the making of the arrangement.

4 A transfer to or by any partnership of which the transferor or transferee is a member, and a transfer to the trustees of any trust of which the transferor is a beneficiary, counts as a transfer in relation to which this Chapter applies.