Capital Gains Tax (Amendment) Act, 1978
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Amendment of section 132 (disposal or acquisition outside a group) of Corporation Tax Act, 1976 . |
14.— Section 132 (2) of the Corporation Tax Act, 1976 , is hereby amended by the substitution of “Section 3 of the Capital Gains Tax (Amendment) Act, 1978,” for “Part II of Schedule 1 to the Capital Gains Tax Act, 1975 ,” and the said section 132 (2), as so amended, is set out in the Table to this section. | |
TABLE | ||
(2) Section 3 of the Capital Gains Tax (Amendment) Act, 1978, shall apply in relation to a disposal of an asset by a company which is or has been a member of a group of companies, and which acquired the asset from another member of the group at a time when both were members of the group, as if all members of the group for the time being were the same person, and as if the acquisition or provision of the asset by the group, so taken as a single person, had been the acquisition or provision of it by the member disposing of it. |