232 Chargeable event when replacement assets owned
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

232  Chargeable event when replacement assets owned

(1)     Subsection (3) below applies where—

(a)     the provisions of section 229(1) or (3) are applied,

(b)     a chargeable event occurs in relation to the trustees on or after the date on which the disposal is made (and whether the event occurs before or after the provisions are applied),

(c)     the claimant was neither an individual who died before the chargeable event occurs nor trustees of a settlement which ceased to exist before the chargeable event occurs, and

(d)     the condition set out below is fulfilled.

(2)     The condition is that, at the time the chargeable event occurs, the claimant or a person then connected with him is beneficially entitled to all the replacement assets.

(3)     In a case where

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