43. Realisation with retention of asset

Where a person realises an asset in any of the manners set out in paragraphs (c) to (f) of section 39 –

the person shall be treated as having parted with ownership of the asset and deriving an amount in respect of the realisation equal to the market value of the asset at the time of the realisation; and

the person shall be treated as reacquiring the asset and incurring expenditure of the amount referred to in paragraph (a) in the acquisition.