SCHEDULES

SCHEDULE 13 U.K. Transfer schemes: tax provisions

Part 5 U.K. Other provisions concerning transfers between public bodies

Trading losses: change in ownership U.K.

30 (1) This paragraph applies to a relevant transfer of all the issued share capital of a company (the “transferred company”). U.K.

(2) For the purposes of sections 768 to 768E of ICTA, the transfer is not to be taken to result in a change in the ownership of—

(a) the transferred company, or

(b) a company which is a wholly-owned subsidiary of the transferred company when the transfer takes effect.