In this section and in section 628 and 629:
"designated area", "exploration or exploitation activities" and "exploration or exploitation rights" have the same meanings respectively as in section 13;
"Directive" means Council Directive (EU) 2016/1164 of 12 July 2016 [OJ No. L193, 19.7.2016, p.1] laying down rules against tax avoidance practices that directly affect the functioning of the internal market;
"exploration or exploitation assets" means assets used or intended for use in connection with exploration or exploitation activities carried on in the State or in a designated area;
"market value" means the amount for which an asset can be exchanged or mutual obligations can be settled between unconnected willing buyers and sellers in a direct transaction;
"relevant event" means one of the events referred to in subsection (2);
"tax" means corporation tax or capital gains tax chargeable by virtue of subsection (2);
"the new assets" and "the old assets" have the meanings respectiv
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