Part 9

Leasing plant or machinery
Chapter 3

Sales of lessors: leasing business carried on by a company alone

“Qualifying change of ownership”

No qualifying change of ownership in certain intra-group reorganisations
395
1
This section applies if—
a
a relevant change in the relationship between a company (“A”) and a principal company of A occurs on any day,
b
that change occurs by reference to A or any other company ceasing to be a qualifying 75% subsidiary on that day, and
c
A, and every company by reference to which that change occurs, are qualifying 75% subsidiaries of the principal company concerned at the start and end of that day.
2
For the purposes of the sales of lessors Chapters, there is no qualifying change of ownership in relation to A on that day as a result of that change in the relationship.
S. 394A and cross-heading inserted (with effect in accordance with Sch. 18 para. 9 of the amending Act) by Finance Act 2010 (c. 13), Sch. 18 para. 5