Textual Amendments
F1Pt. 5A inserted (with effect in accordance with Sch. 4 para. 190 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 4 para. 23
Chapter 5 of Part 5 (which explains certain key concepts for the purposes of Part 5, including (in particular) how to determine if a company is a member of a group of companies or is a member of, or is owned by a consortium) applies for the purposes of this Part as it applies for the purposes of Part 5.
(1)In this Part “trading company” means a company the business of which consists wholly or mainly in the carrying on of a trade.
(2)In this Part “holding company” means a company the business of which consists wholly or mainly in the holding of shares or securities that—
(a)are its 90% subsidiaries, and
(b)are trading companies.
(1)In this Part—
“the claimant company” has the meaning given by section 188CB(2) or 188CC(2),
“the claim period” has the meaning given by section 188CB(2) or 188CC(2),
“company” means any body corporate,
“group relief for carried-forward losses” has the meaning given by section 188AA(4),
“profits” means income and chargeable gains, except in so far as the context otherwise requires,
“shock loss” has the meaning given by section 269ZK,
“Solvency 2 insurance company” means an insurance company as defined in section 269ZP(2),
“the specified loss-making period”, in relation to a claim for group relief for carried forward losses made under section 188CC, has the meaning given by subsection (2) of that section,
“the surrenderable amounts” has the meaning given by section 188BB(7),
“surrendering company” has the meaning given by 188BB(7), and
“the surrender period” has the meaning given by section 188BB(7).
(2)In this Part, except in so far as the context otherwise requires—
(a)references to a trade include an office, and
(b)reference to carrying on a trade include holding an office.]