(1) Notwithstanding any other provision of the Capital Gains Tax Acts, where by virtue or in consequence of an order made under section 174 of the Civil Partnership and Certain Rights and Obligations of Cohabitants Act 2010, on or following the ending of a relationship between cohabitants, either of the cohabitants concerned disposes of an asset to the other cohabitant, then, subject to subsections (2) and (3), both cohabitants shall be treated for the purposes of the Capital Gains Tax Acts as if the asset was acquired from the cohabitant making the disposal for a consideration of such amount as would secure that on the disposal neither a gain nor a loss would accrue to the cohabitant making the disposal.
(2) Subsection (1) shall not apply where the cohabitant who acquired the asset could not be taxed in the State for the year of assessment in which the acquisition took place, in respect of a gain on a subsequent disposal in that year by that cohabitant of the asset, if that cohabita
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