Related Commentary  Related HMRC Manuals

46(1)  This paragraph applies where–

(a)the investing company disposes of any of the relevant shares which have been held by it continuously from the time they were issued until the disposal,

(b)the disposal takes place during the qualification period relating to the relevant shares, and

(c)investment relief is attributable to the shares.

46(2)  If the disposal is not–

(a)by way of a bargain made at arm’s length,

(b)by way of a distribution in the course of dissolving or winding up the issuing company,

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