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The Enterprise Act 2002 (Turnover Test) (Amendment) Order 2020
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- UK Statutory Instruments
- 2020 No. 763
- Article 2
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Amendment of the Enterprise Act 2002
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2.—(1) Section 23 of the Enterprise Act 2002(1) is amended as follows.
(2) For paragraph (b) of subsection (1) and the words following that paragraph substitute—
“(b)the value of the turnover in the United Kingdom of the enterprise being taken over exceeds—
(i)£70 million; or
(ii)£1 million, where the value of the turnover does not exceed £70 million and in the course of the enterprises ceasing to be distinct, a person or group of persons has brought a relevant enterprise (within the meaning of either subsection (2) or (3) of section 23A) under the ownership or control of the person or group.”.
(1)
Section 23 was amended by paragraphs 59 and 68 of Part 2 of Schedule 5 to the Enterprise and Regulatory Reform Act 2013 c. 24 and by S.I. 2018/578. Section 23A was inserted into the Enterprise Act 2002 by S.I. 2018/578 and amended by S.I. 2020/748.
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