Related Commentary  

66(1)  This section applies where–

(a)before 15th February 1999 there occurred a transaction (“the relevant transaction” ) to which sections 127 to 130 of the Taxation of Chargeable Gains Act 1992 applied; and

(b)the new holding (within the meaning given by section 126 of that Act) consisted of or included something (“the new asset” ) that–

(i)did not fall to be treated as a qualifying corporate bond in relation to the relevant transaction, but

(ii)by virtue of section 65 above, does fall to be so treated in relation to a disposal on or after 15th February 1999.

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