SHARE REORGANISATIONS

Related Commentary  Related HMRC Manuals

80(1)  Where a company (“the company”) holds shares which–

(a)form part of the ordinary share capital of another company,

(b)are of the same class and held in the same capacity, and

(c)include shares falling within two or more of the categories in sub-paragraph (2),

then, where there is a reorganisation affecting those shares, to which section 116 or section 127 of the 1992 Act applies, section 116 or (as the case may be) section 127 shall apply separately to shares falling within each of those categories.

80(2)  The categories referred to in sub-paragraph (1)(c) are–

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