Income Tax (Trading and Other Income) Act 2005

Certain telecommunication rights U.K.

39 U.K. Chapter 10 of Part 2 does not apply to an indefeasible right to use a telecommunications cable system (“IRU”) acquired before 21st March 2000.

40 (1) That Chapter also does not apply to an IRU acquired by a person on or after that date (directly or indirectly) from an associate or an associated company if the associate or associated company acquired the IRU before that date. U.K.

(2) In sub-paragraph (1)—

• “associate” has the meaning given by [F1 section 448 of CTA 2010], and

• “associated company”—

  (a)

  in relation to another company, has the meaning given by [F2 section 449 of that Act], and

  (b)

  in relation to any other person, means a company of which that person has control within the meaning of [F3 sections 450 and 451 of that Act].

Textual Amendments

F1 Words in Sch. 2 para. 40(2) substituted (1.4.2010) (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 471(2)(a) (with Sch. 2)

F2 Words in Sch. 2 para. 40(2) substituted (1.4.2010) (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 471(2)(b)(i) (with Sch. 2)

F3 Words in Sch. 2 para. 40(2) substituted (1.4.2010) (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 471(2)(b)(ii) (with Sch. 2)