312Winding up of the relevant companyU.K.
This section has no associated Explanatory Notes
None of the requirements of this Chapter is to be regarded, at a time when the relevant company is being wound up, as being, on that account, a requirement that is not met in relation to that company if—
(a)the requirements of this Chapter would be met in relation to that company apart from the winding up, and
(b)the winding up is for genuine commercial reasons, and is not part of a scheme or arrangement the main purpose or one of the main purposes of which is the avoidance of tax.