C1Part IV Shares, securities, options etc.
C3C2Chapter II Reorganisation of share capital, conversion of securities etc.
Pt. IV Ch. II modified (1.1.1999) by The European Single Currency (Taxes) Regulations 1998 (S.I. 1998/3177), regs. 1, 39
Pt. IV Ch. II modified (with effect in accordance with s. 63(4) of the amending Act) by Finance Act 2000 (c. 17), Sch. 15 para. 88
F4Mergers within European Community
Ss. 140E-140G and cross-heading substituted (with effect in accordance with reg. 3(2) of the amending S.I.) by The Corporation Tax (Implementation of the Mergers Directive) Regulations 2007 (S.I. 2007/3186), reg. 1(2), Sch. 2 para. 2
140GAF3Disapplication of sections 24 and 122 where subsidiary merges with its parent
Sections 24 and 122 do not apply if—
a
a merger is effected by the transfer by a company (“the transferor company”) of all of its assets and liabilities to a single company that holds the whole of the ordinary share capital in the transferor company,
b
each merging company is resident in a F2relevant state,
c
the merging companies are not all resident in the same F1relevant state,
d
section 139 does not apply in relation to the transfer, and
e
in the course of the merger the transferor company ceases to exist without being in liquidation (within the meaning given by section 247 of the Insolvency Act 1986 (c. 55).
Pt. IV: power to modify conferred (7.4.2005) by Finance Act 2005 (c. 7), s. 21(8)-(10)