SCHEDULE 10Group relief

PART 3Withdrawal of relief

Cases where relief not withdrawn: stamp duty reliefs

I121

Relief under this schedule is not withdrawn where—

a

the buyer ceases to be a member of the same group as the seller as a result of an acquisition of shares by another company (“the acquiring company”) in relation to which—

i

section 75 of the Finance Act 1986 (c.41) (stamp duty: acquisition relief) applies, and

ii

the conditions for relief under that section are met, and

b

the buyer is immediately after that acquisition a member of the same group as the acquiring company.