Clause 78 - Attribution of gains of non-resident companies
Finance Bill
10:00 am
Dr Michael Clark (Rayleigh, Conservative)
With this it will be convenient to take the following amendments:
No. 37, in page 51, leave out lines 16 to 22 and insert—
`(b) a chargeable gain accruing on the disposal of an asset which was acquired for bona fide commercial reasons and whose acquisition or disposal does not form part of a scheme or arrangements of which the main purpose, or one of the main purposes, is avoidance of liability to income tax, capital gains tax or corporation tax,'.
No. 38, in page 51, line 37, leave out `three' and insert `six'.