181 Exemption from charge under 178 or 179 in the case of certain mergers
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

181  Exemption from charge under 178 or 179 in the case of certain mergers

(1)     Subject to the following provisions of this section, [section 179 shall not] apply in a case where—

(a)     as part of a merger, a company (“company A”) ceases to be a member of a group of companies (“the A group”); and

() ... the merger was carried out for bona fide commercial reasons and ... the avoidance of liability to tax was not the main or one of the main purposes of the merger.

(2)     In this section “merger” means an arrangement (which in this section includes a series of arrangements) —

(a)     whereby one or more companies (“the acquiring company” or, as the case may be, “the acquiring companies”) none of which

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