Introduction Details of the Schedule Supplementary provisions and application – new section 196L and paragraph 16
121.New section 196L provides a number of definitions and other supplementary provisions for new sections 196B to 196K.
122.New section 196L(2) explains the references to relief being given in respect of a contribution paid by an employer under a registered pension scheme.
123.New section 196L(3) refers to the meaning of connected persons in section 1122 of CTA 2010.
124.New section 196L(4) provides that sections 774 (accounts), 775 (arrangements) and 776 (assets) of CTA 2010 apply to new sections 196B to 196K in the same way as they do for the purposes of Part 16 of CTA 2010.
125.New section 196L(5) provides that a reference to a disposal of an asset includes:
	anything constituting a disposal of an asset for the purposes of the Taxation of Chargeable Gains Act 1992; and
	the taking of any step by virtue of which a person receives an asset, for example, the issuing of shares or any instrument creating or acknowledging indebtedness.
This is to ensure that all types of asset transfers in relation to ABC arrangements are covered.
126.New section 196L(6) stipulates that section 776(2) of CTA 2010 applies for the purposes of sub-section 5(b) set out above.
127.New section 196L(7) sets out the meaning of “non-working day”.
128.Paragraph 16 make a consequential amendment to section 280(1) FA 2004 (abbreviations) by inserting a reference to CTA 2010.