diff --git a/src/compiler/checker.ts b/src/compiler/checker.ts
index 98cd87923761e..73b29f5115442 100644
--- a/src/compiler/checker.ts
+++ b/src/compiler/checker.ts
@@ -16531,36 +16531,31 @@ export function createTypeChecker(host: TypeCheckerHost): TypeChecker {
     }
 
     function getUnionOrIntersectionTypePredicate(signatures: readonly Signature[], kind: TypeFlags | undefined): TypePredicate | undefined {
-        let first: TypePredicate | undefined;
+        let last: TypePredicate | undefined;
         const types: Type[] = [];
         for (const sig of signatures) {
             const pred = getTypePredicateOfSignature(sig);
-            if (!pred || pred.kind === TypePredicateKind.AssertsThis || pred.kind === TypePredicateKind.AssertsIdentifier) {
-                if (kind !== TypeFlags.Intersection) {
-                    continue;
-                }
-                else {
-                    return; // intersections demand all members be type predicates for the result to have a predicate
-                }
-            }
-
-            if (first) {
-                if (!typePredicateKindsMatch(first, pred)) {
-                    // No common type predicate.
+            if (pred) {
+                // Constituent type predicates must all have matching kinds. We don't create composite type predicates for assertions.
+                if (pred.kind !== TypePredicateKind.This && pred.kind !== TypePredicateKind.Identifier || last && !typePredicateKindsMatch(last, pred)) {
                     return undefined;
                 }
+                last = pred;
+                types.push(pred.type);
             }
             else {
-                first = pred;
+                // In composite union signatures we permit and ignore signatures with a return type `false`.
+                const returnType = kind !== TypeFlags.Intersection ? getReturnTypeOfSignature(sig) : undefined;
+                if (returnType !== falseType && returnType !== regularFalseType) {
+                    return undefined;
+                }
             }
-            types.push(pred.type);
         }
-        if (!first) {
-            // No signatures had a type predicate.
+        if (!last) {
             return undefined;
         }
         const compositeType = getUnionOrIntersectionType(types, kind);
-        return createTypePredicate(first.kind, first.parameterName, first.parameterIndex, compositeType);
+        return createTypePredicate(last.kind, last.parameterName, last.parameterIndex, compositeType);
     }
 
     function typePredicateKindsMatch(a: TypePredicate, b: TypePredicate): boolean {