Commentary

D8.380 Company restructuring generally

Corporate tax
Corporate tax | Commentary

D8.380 Company restructuring generally

Corporate tax | Commentary

Company restructuring

D8.380 Company restructuring generally

The normal rules in TCGA 1992 concerning the reorganisation, conversion and reconstruction of share capital apply to the corporate venturing scheme, unless there is one of the following circumstances1:

  1.  

    (a)     a reorganisation or reduction of the issuing company's share capital to which TCGA 1992, s 116 or 127 applies (see D8.381);

  2.  

    (b)     a reorganisation involving a rights issue (ie further shares are allotted to shareholders in the company in respect of, and in proportion to, their existing holdings), or where the old shares are exchanged for qualifying corporate bonds

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