117The qualifying loss condition: generalU.K.
(1)An EEA amount meets the qualifying loss condition so far as sections 118, 119 and 120 apply to it.
(2)In this section and sections 118 to 120, “the relevant EEA territory” means—
(a)the EEA territory in which the surrendering company is resident, or
(b)(as the case may be) the EEA territory in which the surrendering company carries on a trade through a permanent establishment.
(3)In sections 118 and 119 “relevant non-UK tax” means any non-UK tax chargeable under the law of the relevant EEA territory or any other resident territory.
(4)A “resident territory” is—
(a)if the surrendering company is resident in an EEA territory and is also resident in another territory outside the United Kingdom, that other territory, or
(b)if the surrendering company is not resident in any EEA territory, the territory (or territories) in which it is resident.