435(1)  This section applies if–

(a)sections 127 to 130 of TCGA 1992 (reorganisations: equation of original shares and new holding)–

(i)apply in relation to a reorganisation, or

(ii)would so apply but for section 116(5) of that Act (which disapplies those sections where the original shares or the new holding consists of or includes a qualifying corporate bond),

(b)the original shares consist of or include an asset representing a loan relationship, and

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