§ Mr. Peter Reesasked the Chancellor of the Exchequer whether the liquidation of a company and the transfer of its assets to two or more new companies in consideration of an issue of ordinary shares only is regarded by the Board of Inland Revenue as within the scope of section 460 of the Income and Corporation Taxes Act, 1970.
§ Mr. Patrick JenkinThe application of the Section must depend upon the circumstances382W of each individual case. If my hon. Friend has any such case in mind, perhaps he will write to me.