Railways Act 2005 (c. 14)

SCHEDULES

SCHEDULE 10 E+W+S Taxation provisions relating to transfer schemes

Part 2 E+W+S Other transfers under section 1(2) schemes

Trading losses: change in ownership E+W+S

11 (1) This paragraph applies to a relevant transfer of all the issued share capital of a company (the “transferred company”). E+W+S

(2) For the purposes of sections 768 and 768D of the Taxes Act, the transfer is not to be taken to result in a change in the ownership of—

(a) the transferred company; or

(b) a company which is a wholly-owned subsidiary of the transferred company when the transfer takes effect.

Commencement Information

I1 Sch. 10 para. 11 in force at 8.6.2005 by S.I. 2005/1444, art. 2(1), Sch. 1