Finance Act 2000 (c. 17)

SCHEDULES

SCHEDULE 22 Tonnage tax

Part XII Groups, mergers and related matters

Meaning of “merger” and “demerger”

121 (1) In this Schedule—

• “merger” means a transaction by which one or more companies become members of a group, and

• “demerger” means a transaction by which one or more companies cease to be members of a group.

(2) References to a merger to which a group is a party include any merger affecting a member of the group.