Related Commentary  

12(1)  For the purposes of the taxable property provisions an investment-regulated pension scheme acquires an interest in property if it comes to hold the interest.

12(2)  Sub-paragraph (1) applies however the pension scheme comes to hold the interest, whether that is–

(a)by act of the parties to a transaction,

(b)by order of a court or other authority,

(c)by or under any statutory provision, or

(d)by operation of law.

12(3)  For instances of deemed acquisition, see paragraphs 27 to 29.

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