SCHEDULES
SCHEDULE 22 Tonnage tax
Part XII Groups, mergers and related matters
Merger: between tonnage tax groups or companies
122
1
This paragraph applies where there is a merger—
a
between two or more tonnage tax groups,
b
between one or more tonnage tax groups and one or more tonnage tax companies, or
c
between two or more tonnage tax companies.
2
In all those cases the group resulting from the merger is a tonnage tax group as if a group election had been made.
3
That deemed election continues in force, subject to the provisions of this Schedule—
a
if there is a dominant party to the merger, until that party’s tonnage tax election would have expired;
b
if there is no dominant party, until whichever of the existing tonnage tax elections had the longest period left to run would have expired.