Corporation Tax Act 2010

Ceasing to meet trading requirement because of administration or receivership

30 (1) In relation to shares issued before 17 March 2004, section 80 applies with the following modifications—

(a) in subsection (1), the omission of “merely” and the substitution for “the company or any of its subsidiaries” of “its”,

(b) in subsection (2)(b), the omission of “concerned”,

(c) in subsection (3)(a), the omission of “or any of its subsidiaries”,

(d) in subsection (3)(b), the omission of “or any of its subsidiaries”, and

(e) in subsection (4), the omission of “is”, in the second place where it occurs.

(2) In relation to an administration order the petition for which was presented before 15 September 2003, section 80(2) applies with the substitution for paragraph (a) of—

“(a) the making of the order in question, and”.

(3) In relation to shares issued before 21 March 2000, section 80 applies with the omission of subsections (1) and (2).

(4) Section 80 does not apply in relation to shares issued before 6 April 1998.