CFM15612 - SI 2002 No. 1970

Cases where section 127 of the 1992 Act applies in relation to assets as regards which paragraph (2)(a), but not paragraph (2)(b), of regulation 8 has had effect

12.—(1) This regulation applies in the circumstances prescribed by paragraph (2) below.

(2) The circumstances prescribed by this paragraph are where section 127 of the 1992 Act applies in relation to a transaction involving original shares which are or include an asset as regards which paragraph (2)(a), but not paragraph (2)(b), of regulation 8 has had effect.

(3) Where this regulation applies, regulation 11(4) shall apply to the amount which, by virtue of regulation 8(2)(a), has not been brought into account as a chargeable gain or an allowable loss for the accounting period in which the disposal of the asset occurs in the same way as it applies to an amount found under regulation 11(3).