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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2017 - onwards
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739V. Transfer of IREF business to a company.

 (1) In this section -

"the Acts" means the Tax Acts and the Capital Gains Tax Acts;

"specified company" means a company that is formed under the laws of, and is registered in, a Member State or an EEA state;

"transferred business" means the IREF business, the IREF assets and any assets ancillary to the IREF business referred to in subsection (2)(a)(i) or (ii), as the case may be.

(2) This section applies -

(a) where an investment undertaking -

(i) transfers the whole of its IREF business and its IREF assets, including any assets ancillary to the IREF business, or

(ii) which carries out activities which would be regarded as dealing in or developing land and other IREF business, transfers the part of its IREF business and its IREF assets, including any assets ancillary to the IREF business, that relate to dealing in or developing land,

to a specified company which is within the charge to corporation tax in respect of the transferred business and the charge to capital gains tax in respe

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