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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2019 - onwards
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835Y. Relief on certain disposals of shares or securities in a controlled foreign company

(1) In this section, 'chargeable gain' shall be construed in accordance with section 545.

(2) This section shall apply where a controlling company or a company connected with the controlling company (either of which is in this section referred to as a 'disposing company'), disposes of shares or securities in a controlled foreign company or in a company connected with the controlled foreign company (either of which is in this section referred to as the 'disposed company') and a controlled foreign company charge has been made on a disposing company by reference to its interest in the disposed company.

(3) This subsection applies where -

(a) the disposing company is the only chargeable company in relation to the disposed company,

(b) the disposing company is not a chargeable company in relation to the disposed company and the chargeable company does not have any interest in the disposed company, or

(c) the disposing company is a chargeable company in relation to the disposed company and,

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