SCHEDULES

SCHEDULE 18 U.K.Sale of lessors: election out of charge

Main changes U.K.

5 U.K.After section 394 insert—

“ “Qualifying change of ownership” U.K.

394A “Qualifying change of ownership”

For the purposes of the sales of lessors Chapters there is a qualifying change of ownership in relation to a company (“A”) on any day if there is a relevant change in the relationship on that day between A and a principal company of A unless any of the following apply—

(a) section 395(2),

(b) section 396(2), or

(c) section 398A(2) or (5).”