Statute
Section 72 — Finance Act 2014: Substantial shareholder exemption: oil and gas
Text of the provision Official document
Substantial shareholder exemption: oil and gas 72 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.
Official source: legislation.gov.uk
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