Related Commentary  

233(1)  Subsection (3) below applies where–

(a)paragraphs (a) to (c) of section 232(1) are fulfilled, and

(b)the condition set out below is fulfilled.

233(2)  The condition is that–

(a)before the time when the chargeable event occurs, all the gain carried forward by virtue of section 229(1) or (3) was in turn carried forward from all the replacement assets to other property on a replacement of business assets, and

(b)at the time the chargeable event occurs, the claimant or a person then connected with him is beneficially entitled to all the property.

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