44However, it is apparent from the purpose of Article 5(8) of the Sixth Directive and from the interpretation of the concept of ‘a transfer, whether for consideration or not or as a contribution to a company, of a totality of assets or part thereof’ which flows from it, as set out in paragraph 40 of this judgment, that the transfers referred to in that provision are those in which the transferee intends to operate the business or the part of the undertaking transferred and not simply to immediately liquidate the activity concerned and sell the stock, if any.
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