All shares of the same class in the same company acquired from 1 April 1982 onwards by a company in the same capacity are pooled in a Section 104 holding. This used to be called a `new holding' until the name was changed by FA 1998. For convenience the 1998 name `Section 104 holding' is used throughout this section of the guidance.

The only exceptions are rights and bonus issues in respect of shares held by the company on 31 March 1982.. See CG51632 if the bonus or rights issue relates to a 1982 holding, or CG51641 if the shares were held at 6 April 1965.

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