[F1 Restrictions on giving directionsU.K.
2[F2(1)] The Commissioners shall not give a direction under this Schedule by reference to a relevant event if they are satisfied that—U.K.
(a)the change in the treatment of the body corporate, or
(b)the transaction in question,
had as its main purpose or, as the case may be, as each of its main purposes a genuine commercial purpose unconnected with the fulfilment of the condition specified in paragraph 1(3) above.
[F3(2)This paragraph shall not apply where the relevant event is the termination of a body corporate’s treatment as a member of a group by a notice under section 43C(1) or (3).]]
Textual Amendments
F2Sch. 9A para. 2(1) renumbered (27.7.1999) by 1999 c. 16, s. 16, Sch. 2 para. 5(2)
F3Sch. 9A para. 2(2) inserted (27.7.1999) by 1999 c. 16, s. 16, Sch. 2 para. 5(2)