SCHEDULES

SCHEDULE 6Consortium claims for group relief

Limitations on group relief based on proportion of voting power held by company

7

1

Section 143 (which makes provision limiting the amount of group relief that is available in cases where the surrendering company is owned by a consortium) is amended as follows.

2

In subsection (3)—

a

omit the “and” at the end of paragraph (b), and

b

at the end of paragraph (c) insert

, and

d

the proportion of the voting power in the surrendering company that is directly possessed by the claimant company.

3

In subsection (4)(a), for “paragraphs (a) to (c)” substitute “ paragraphs (a) to (d) ”.