Part I Transfers from London Regional Transport to Transport for London
Greater London Authority Act 1999 (1999 c 29) | Legislation

SCHEDULE 33 Taxation Provisions

Section 419

Part I Transfers from London Regional Transport to Transport for London

Interpretation

1

In this Part of this Schedule—

“qualifying transfer†means a transfer of property, rights or liabilities by virtue of a transfer instrument;

“successor†means the body to which property, rights or liabilities are transferred by virtue of a transfer instrument;

“transfer dateâ€, in the case of any transfer, means the date on which the transfer takes effect;

“transfer instrument†means—

(a)     an order under section 408 or 411 of this Act;

(b)     a scheme under section 409 of this Act; or

(c)     an instrument or agreement which is certified to the Commissioners of Inland Revenue by London Regional Transport as made in pursuance of such an order or scheme;

“transferor†in relation to any qualifying transfer, means the body from which the property, rights or liabilities in question are transferred by virtue of the transfer instrument in question.

Chargeable gains: general

2

(1)     For the purposes of the Taxation of Chargeable Gains Act 1992, where there is a qualifying transfer—

(a)     from London Regional Transport or any of its subsidiaries,

(b)     to Transport

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