16 Non-resident group of companies.U.K.
(1)This section has effect for the purposes of section 15 above.
(2)Sections 273 to 275 and 276(1) of [F1the Taxes Act 1970] shall apply in relation to non-resident companies which are members of a non-resident group of companies, as they apply in relation to companies resident in the United Kingdom which are members of a group of companies.
(3)Sections 278 and 279 of [F1the Taxes Act 1970] shall apply for the said purposes as if for any reference therein to a group of companies there were substituted a reference to a non-resident group of companies, and as if references to companies were references to companies not resident in the United Kingdom.
(4)For the purposes of this section—
(a)a “non-resident group” of companies—
(i)in the case of a group, none of the members of which are resident in the United Kingdom, means that group, and
(ii)in the case of a group, two or more members of which are not resident in the United Kingdom means the members which are not resident in the United Kingdom;
(b)“group” shall be construed in accordance with subsections (1) (without paragraph (a), (3) and (4) of section 272 of [F1the Taxes Act 1970].
Textual Amendments
F1Words substituted by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), Sch. 29 para. 15(b)