8(1)Sub-paragraph (2) applies if a company (the degrouped company)—
(a)acquired an asset from another company at any time when both were members of the same group of companies (the old group),
(b)ceases by virtue of a relevant transfer to be a member of the old group, and
(c)becomes by virtue of the transfer a member of another group of companies (the new group).
(2)Section 179 of the 1992 Act (company ceasing to be member of group) is not to treat the degrouped company as having by virtue of the transfer sold and immediately reacquired the asset.
(3)Sub-paragraph (4) applies if—
(a)sub-paragraph (2) applies to an asset, and
(b)the degrouped company ceases to be a member of the new group.
(4)On the company so ceasing section 179 of the 1992 Act is to have effect as if the degrouped company and the company from which it acquired the asset had been members of the new group at the time of acquisition.
(5)But sub-paragraph (4) does not apply if—
(a)at the time when the degrouped company ceases to be a member of the new group the company from which it acquired the asset also ceases to be a member of the new group,
(b)the companies are associated companies immediately before and immediately after that time, and
(c)the companies were associated companies at the time of acquisition.
(6)Expressions used in this paragraph and in section 179 of the 1992 Act have the same meanings in this paragraph as in that section.
9(1)Sub-paragraph (3) applies if—
(a)a company (the degrouped company) ceases by virtue of a relevant transfer to be a member of a group of companies (the old group),
(b)it becomes by virtue of the transfer a member of another group of companies (the new group),
(c)it ceases to be a member of the new group, and
(d)the condition in sub-paragraph (2) is satisfied.
(2)The condition is that—
(a)the degrouped company acquired an asset under a relevant transfer at a time falling before it ceases to be a member of the new group, and
(b)at the time of acquisition the degrouped company and the transferor were not members of the new group.
(3)On the degrouped company ceasing to be a member of the new group section 179 of the 1992 Act is to have effect as if the degrouped company and the transferor had been members of the new group at the time of acquisition.
(4)But sub-paragraph (3) does not apply if—
(a)at the time when the degrouped company ceases to be a member of the new group the transferor also ceases to be a member of the new group,
(b)the companies are associated companies immediately before and immediately after that time, and
(c)the companies were associated companies at the time of acquisition.
(5)Paragraph 8(4) and sub-paragraph (3) above may apply on the same occasion; but if paragraph 8(4) applies to an asset on a given occasion sub-paragraph (3) above does not apply to that asset on that occasion.
(6)Expressions used in this paragraph and in section 179 of the 1992 Act have the same meanings in this paragraph as in that section.
10(1)Sub-paragraph (4) applies if—
(a)a company ceases by virtue of a relevant transfer to be a member of a group of companies (the old group),
(b)it becomes by virtue of the transfer a member of another group of companies (the new group),
(c)a company falling within sub-paragraph (2) (the degrouped company) ceases to be a member of the new group, and
(d)the condition in sub-paragraph (3) is satisfied.
(2)A company falls within this sub-paragraph if immediately before it ceases to be a member of the new group it is a subsidiary of—
(a)the company referred to in sub-paragraph (1)(a), or
(b)the principal company of the new group (if that company differs from the company referred to in sub-paragraph (1)(a)).
(3)The condition is that—
(a)the degrouped company acquired an asset under a relevant transfer at a time falling before it ceases to be a member of the new group, and
(b)at the time of acquisition the degrouped company and the transferor were not members of the new group.
(4)On the degrouped company ceasing to be a member of the new group section 179 of the 1992 Act is to have effect as if the degrouped company and the transferor had been members of the new group at the time of acquisition.
(5)But sub-paragraph (4) does not apply if—
(a)at the time when the degrouped company ceases to be a member of the new group the transferor also ceases to be a member of the new group,
(b)the companies are associated companies immediately before and immediately after that time, and
(c)the companies were associated companies at the time of acquisition.
(6)Expressions used in this paragraph and in section 179 of the 1992 Act have the same meanings in this paragraph as in that section.