50(1)Section 305 (group relief) is amended as follows.U.K.
(2)In the heading, at the end insert “ and group relief for carried-forward losses ”.
(3)After subsection (1) insert—
“(1A)On a claim under Chapter 3 of Part 5A, group relief for carried-forward losses may not be allowed against the claimant company's ring fence profits.”
(4)For subsection (4) substitute—
“(4)In this section—
“claimant company” is to be read in accordance with Part 5 (see section 188) or Part 5A (see sections 188CB(2) and 188CC(2)), as the case requires;
“surrendering company” is to be read in accordance with Part 5 (see section 188).”