[169SC Election by individual where company ceases to be personal company]
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

[169SC  Election by individual where company ceases to be personal company]

[(1)     If the following conditions are met, an individual may elect for this section to have effect.

(2)     The first condition is that, as a result of a relevant share issue, the company ceases to be the individual's personal company.

(3)     The second condition is that—

(a)     if, immediately before the relevant share issue, the individual had made a disposal at their relevant value of all assets consisting of shares in or securities of the company, the disposal would have been a material disposal of business assets, and

(b)     if a claim for [business asset disposal relief] had been made in respect of

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