Finance Act 1985

Interpretation

1 In this Part of this Schedule—

(a) a " company owned by a consortium" means either such a trading company as is referred to in paragraph (a) or paragraph (b) of subsection (2) of section 258 of the Taxes Act or such a holding company as is referred to in paragraph (c) of that subsection (companies owned directly or indirectly by consortia);

(b) a " consortium claim " means a claim for group relief made by virtue of subsection (2) of section 258 of the Taxes Act;

(c) a " group claim " means a claim for group relief made by virtue of subsection (1) of that section ;

(d) a "group/consortium company" means a company which is both a member of a group of companies and a company owned by a consortium ;

(e) " relevant accounting period " means an accounting period beginning on or after 1st August 1985 ; and

(f) other expressions have the same meaning as in section 258 and the following sections of Chapter I of Part XI of the Taxes Act.