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Energy Act 2004

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Changes over time for: Paragraph 15

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Changes to legislation:

Energy Act 2004, Paragraph 15 is up to date with all changes known to be in force on or before 25 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

This section has no associated Explanatory Notes

15(1)This paragraph applies where, in consequence of a section 39 scheme—U.K.

(a)a BNFL company ceases to carry on a trade or a part of a trade; and

(b)an NDA group member begins to carry on the trade or that part of it.

(2)For the purpose of computing, in relation to the time when the scheme comes into force and subsequent times, the relevant trading profits or losses of the BNFL company and the NDA group member—

(a)the trade or part is to be treated as having been a separate trade at the time of its commencement and as having been carried on by the NDA group member at all times since its commencement as a separate trade; and

(b)the trade carried on by the NDA group member after the time when the section 39 scheme comes into force is to be treated as the same trade as that which it is treated, by virtue of paragraph (a), as having carried on as a separate trade before that time.

(3)This paragraph is subject to paragraph 11.

(4)In this paragraph—

  • BNFL company” means BNFL or a subsidiary of BNFL;

  • NDA group member” means the NDA or a subsidiary of the NDA;

  • relevant trading profits and losses” means profits or losses [F1under Part 3 of the Corporation Tax Act 2009 in respect of the trade or part of a trade in question for periods in which the trade was carried on wholly or partly in the United Kingdom.]

Textual Amendments

F1Words in Sch. 9 para. 15(4) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 586(4) (with Sch. 2 Pts. 1, 2)

Commencement Information

I1Sch. 9 para. 15 in force at 5.10.2004 by S.I. 2004/2575, art. 2(1), Sch. 1

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