[F1371DGExclusion: trading profits (business premises condition)U.K.
(1)This section applies for the purposes of section 371DF(1)(a).
(2)The business premises condition is met if, at all times during the accounting period, the CFC has in the territory in which it is resident for the accounting period premises—
(a)which are, or are intended to be, occupied and used with a reasonable degree of permanence, and
(b)from which the CFC's activities in that territory are wholly or mainly carried on.
(3)“Premises” means—
(a)an office, shop, factory or other building or part of a building,
(b)a mine, an oil or gas well, a quarry or other place of extraction of natural resources, or
(c)a building site or the site of a construction or installation project, but only if the building work or project has a duration of at least 12 months.]
Textual Amendments
F1Pt. 9A inserted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 20 para. 1 (with ss. 56-58)