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Income Tax Act 2007

Section 252: Meaning of a company being “in administration” or “in receivership”

771.This section gives the meaning of a company being in administration (or receivership). It is based on section 312(2A) of ICTA.

772.The reference to Northern Ireland legislation in subsection (2)(a) takes into account amendments to the Insolvency (Northern Ireland) Order 1989 by the Insolvency (Northern Ireland) Order 2005. The reference in subsection (2)(b) to the law of a country or territory outside the United Kingdom accords with the insolvency law in force in Great Britain and in Northern Ireland. See Change 56 in Appendix 1.

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