SCHEDULE 11Reconstruction relief and acquisition relief

PART 4Withdrawal of relief

Withdrawal of relief on subsequent non-exempt transfer

I124

This paragraph applies where the acquiring company or a relevant associated company, at that time (“the relevant time”), holds a chargeable interest—

a

that was transferred to the acquiring company by the relevant transaction, or

b

that is derived from an interest so transferred,

and that has not subsequently been transferred at market value under a chargeable transaction in relation to which relief under Part 2 or Part 3 of this schedule was available but was not claimed.