[326A Certain requirements of Chapter 3 to be treated as met]
Income Tax Act 2007 (2007 c 3) | Legislation

[326A  Certain requirements of Chapter 3 to be treated as met]

[(1)     If this section applies, subsections (2) to (6) have effect to determine the extent to which, and the time for which, the following conditions in Chapter 3 are met in relation to the old shares and the new shares—

the investment limits condition (see section 280B);

the permitted maximum age condition (see section 280C);

the no business acquisition condition (see section 280D).

(2)     If—

(a)     there is an exchange under the arrangements of any new shares for any old shares, and

(b)     those old shares are an investment in relation to which the investment limits condition, the permitted maximum age condition or the no business acquisition condition

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