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18.—(1) This regulation applies if there is a relevant transfer within regulation 3(2)(a), (b), (d), (e) or (f).
(2) If there is a relevant transfer to which this regulation applies, and the transferor and the transferee —
(a)are members of the same group at the time of the relevant transfer; but
(b)subsequently cease to be members of the same group,
paragraph (3) applies.
(3) If paragraph (2) is satisfied, section 179 of TCGA (company ceasing to be a member of group: post-appointed day cases) shall not have effect as respects—
(a)any asset acquired by the transferee as a consequence of the relevant transfer from the transferor or any other member of the same group; or
(b)any asset acquired as a consequence of the transfer from the transferor, or any other member of the same group, by any company which is a member of the same group as the transferor at the time of the relevant transfer.
(4) If this regulation applies and, as a result of the relevant transfer, a company which was a member of the same group as the transferor at the time of the relevant transfer—
(a)ceases to be a member of that group;
(b)becomes a member of the same group as the transferee; and
(c)subsequently ceases to be a member of that group,
section 179 of TCGA shall have effect when the company ceases to be a member of the same group as the transferee as respects any relevant asset acquired by that company otherwise than from the transferee as if that asset had been acquired from the transferee.
This paragraph is subject to paragraph (6).
(5) In paragraph (4) “relevant asset” means any asset acquired by the company referred to in that paragraph from—
(a)the transferor; or
(b)any other company which is a member of the same group as the transferor at the time of the relevant transfer,
when the company referred to in that paragraph and the transferor, or the company referred to in that paragraph, the transferor and the other company, were members of the same group.
(6) Paragraph (4) shall not apply if the company referred to in that paragraph which acquired that asset and the company from which that asset was acquired (one being a 75 per cent subsidiary of the other) cease simultaneously to be members of the same group as the transferee but continue to be members of the same group as one another.
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