Subject to sections 128 to 130, a reorganisation shall not be treated as involving any disposal of the original shares or any acquisition of the new holding or any part of it, but the original shares (taken as a single asset) and the new holding (taken as a single asset) shall be treated as the same asset acquired as the original shares were acquired.
Section 127: Equation of original shares and new holding.
Taxation of Chargeable Gains Act 1992 · 1992 c. 12View on legislation.gov.uk
Part IV: Shares, securities, options etc. — Chapter II: Reorganisation of share capital, conversion of securities etc.
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