SCHEDULES

SCHEDULE 6 Group relief etc: amendments

Application of amendments

6

1

Sub-paragraph (2) below shall apply where either of the following events occurs on or after 15th November 1991—

a

any shares or securities of the relevant company are issued in circumstances where they carry both rights referred to in paragraph 4(1) of Schedule 18 and rights referred to in paragraph 5(1) of Schedule 18;

b

any shares or securities of the relevant company issued before 15th November 1991 begin to carry both rights referred to in paragraph 4(1) of Schedule 18 and rights referred to in paragraph 5(1) of Schedule 18 (whether or not they previously carried rights referred to in one of those paragraphs).

2

In such a case paragraph 1 above shall apply in relation to the accounting period in which the event occurs and subsequent accounting periods.

3

In this paragraph—

a

references to the relevant company are to the second company referred to in paragraphs 2(1) and 3(1) of Schedule 18;

b

references to accounting periods are to accounting periods of that company.