Finance Act 2005

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Amendment of section 3 (supply of goods) of Principal Act.

99.—Section 3 of the Principal Act is amended in subsection (5)(b) by substituting the following for subparagraph (iii)—

“(iii) being the transfer to a taxable person of a totality of assets, or part thereof, of a business even if that business or part thereof had ceased trading, where those transferred assets constitute an undertaking or part of an undertaking capable of being operated on an independent basis,”.