Part II Income Tax, Corporation Tax and Capital Gains Tax
Chapter I General
Groups etc.
24 Amendments relating to group relief etc.
Schedule 6 to this Act (which contains amendments relating to group relief etc.) shall have effect.
25 Companies ceasing to be members of groups.
F11
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2
Subject to the repeals made by the M1Taxation of Chargeable Gains Act 1992, in relation to a company which ceases to be a member of a group of companies on or after 15th November 1991 section 278 of the M2Income and Corporation Taxes Act 1970 (deemed sale etc. where company ceases to be member of a group) shall have effect, and be deemed to have had effect, with the substitution in subsection (1) of the words “
in consequence of another member of the group ceasing to exist
”
for the words from “by being wound up" to the end of the subsection.