Textual Amendments
F1Sch. 7A inserted (with effect in accordance with Sch. 5 para. 25(1)(2) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 5 para. 2 (with Sch. 5 para. 28)
53(1)This paragraph applies if—U.K.
(a)a closure notice is given to a company under paragraph 47,
(b)a period of account of a worldwide group (“the new group”) is designated under paragraph 47(4) in the closure notice,
(c)the company is not a member of the new group at any time in that period of account, and
(d)paragraph 51 does not apply.
(2)An officer of Revenue and Customs may appoint a company to be the reporting company of the new group in relation to that period.
(3)The appointment—
(a)must be of a company that was a UK group company at any time during that period and was not dormant throughout that period, and
(b)must be made before the end of the period of 3 months beginning with the day on which the closure notice is given to the company.]