§ 3.—(1) Subject to sub-paragraph (3) below, this Schedule applies where—
- (a) by virtue or any of the enactments specified in sub-paragraph (2) below a gain is treated as accruing in consequence of an event occurring on or after 6th April 1988, and
- (b) the gain is attributable (whether directly or indirectly and whether in whole or in part) to the disposal before 6th April 1988 of an asset acquired before 31st March 1982 by the person making that disposal.
§ (2) The enactments referred to in sub-paragraph (1) above are—
- (a) section 268A of the Taxes Act 1970 (postponement of charge where securities acquired in exchange for business acquired by non-resident company);
- (b) section 278(3) of that Act (charge on company leaving group in respect of asset acquired from another member of same group);
- (c) section 84 of the Capital Gains Tax Act 1979 (postponement of charge where gilts acquired on compulsory acquisition of shares);
- (d) section 111B(3) of that Act (postponement of charge where depreciating asset acquired on compulsory acquisition of land);
- (e) section 117(2) of that Act (postponement of charge where depreciating asset acquired as replacement for business asset);
- (f) section 79 of the Finance Act 1981 (activation of charge rolled over under section 79 of the Finance Act 1980 on emigration of donee); and
- (g) paragraph 10 of Schedule 13 to the Finance Act 1984 (postponement of charge on reorganisation etc. involving acquisition of qualifying corporate bonds).
§ (3) Where a gain is treated as accruing by virtue of section 278(3) of the Taxes Act 1970 this Schedule applies only if the asset was acquired by the chargeable company (within the meaning of section 278) before 6th April 1988.