[138ZA Share exchanges involving non-UK incorporated close companies]
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

[138ZA  Share exchanges involving non-UK incorporated close companies]

[(1)     Section 138ZB applies where—

(a)     section 135 or 136 applies to an issue by a company (“company B”) of shares in or debentures of that company (“the exchanged shares or debentures”) in exchange for or in respect of shares in or debentures of another company (“company A”),

(b)     immediately before the issue is made, company A is a close company which is incorporated in the United Kingdom (whether or not it is resident in the United Kingdom),

(c)     immediately after the issue is made, company B is a close company which is not incorporated in the United Kingdom

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