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3(1)A person who has been concerned in the carrying on of a business shall be treated as having retired on ill-health grounds if, on production of such evidence as the Board may reasonably require, the Board are satisfied—
(a)that he has ceased to be engaged in and, by reason of ill-health, is incapable of engaging in work of the kind which he previously undertook in connection with that business; and
(b)that he is likely to remain permanently so incapable.
(2)In sub-paragraph (1) above, the reference to a person being concerned in the carrying on of a business is a reference to his being so concerned personally or as a member of a partnership carrying on the business; and the business which is relevant for the purposes of the provisions referred to in paragraph 1(1) above is that referred to—
(a)in subsection (3) or subsection (4) of section 163 in relation to a material disposal of business assets;
(b)in subsection (5) of section 164 in relation to a trustees' disposal; and
(c)in subsection (7) of section 164 in relation to an associated disposal.
(3)A person who has been a full-time working director of a company or of two or more companies shall be treated as having retired on ill-health grounds if, on production of such evidence as the Board may reasonably require, the Board are satisfied—
(a)that he has ceased to serve and, by reason of ill-health, is incapable of serving that company or, as the case may be, those companies in a managerial or technical capacity; and
(b)that he is likely to remain permanently incapable of serving in such a capacity that company or those companies (as the case may be) or any other company engaged in business of a kind carried on by that company or those companies.
(4)In relation to an employee’s disposal, a person who has been exercising any office or employment shall be treated as having retired on ill-health grounds if, on production of such evidence as the Board may reasonably require, the Board are satisfied—
(a)that he has ceased to exercise and, by reason of ill-health, is incapable of exercising that office or employment; and
(b)that he is likely to remain permanently so incapable.
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