Section 5

The references to gain and loss in sections 2 to 4 are to be read in accordance with this section. “Gain” and “loss”— and “property” means any property whether real or personal (including things in action and other intangible property). extend only to gain or loss in money or other property; include any such gain or loss whether temporary or permanent; “Gain” includes a gain by keeping what one has, as well as a gain by getting what one does not have. “Loss” includes a loss by not getting what one might get, as well as a loss by parting with what one has.

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Source: legislation.gov.uk · retrieved 2026-09-04