Commentary

I7.160B BPR and companies in liquidation

IHT, trusts and estates

I7.160B BPR and companies in liquidation

I7.160B BPR and companies in liquidation

Shares in or securities of a company are not relevant business property if, at the time of the transfer:

  1.  

    •     a winding up order has been made, or

  2.  

    •     the company has passed a resolution for voluntary winding up, or

  3.  

    •     the company is otherwise in process of liquidation1

However, the shares or securities will still qualify as relevant business property if the business is to continue and:

  1.  

    •     the purpose of the winding up or liquidation was to enter into a reconstruction or amalgamation, or

  2.  

    •     a

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