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Section 103E: Application of Chapter

Taxation of Chargeable Gains Act 1992 · 1992 c. 12View on legislation.gov.uk

Part III: Individuals, partnerships, trusts and collective investment schemes etc — Chapter 4: Collective investment schemes: exchanges, mergers and schemes of reconstruction

In this Chapter (except this section) references to a collective investment scheme are to a collective investment scheme falling within any of the following paragraphs—

an authorised contractual scheme which is a co-ownership scheme,
a Reserved Investor Fund (Contractual Scheme),
a unit trust scheme, or
an offshore fund.

Sections 126 to 138A (reorganisation of share capital, conversion of securities etc) do not apply for the purposes of the treatment of participants in collective investment schemes falling within subsection (1)(a) to (c) except as applied by this Chapter.

But sections 135 to 138A (company reconstructions) may apply for those purposes where either company A or company B is not a collective investment scheme falling within subsection (1)(a) to (c).

In subsection (3), "company A" and "company B" have the meaning given by section 135 or 136 as the case may be.

In this Chapter, "units" includes shares in a company.

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Reuse reviewed 21 August 2026 under Open Government Licence v3.0.