SCHEDULES
SCHEDULE 12Controlled foreign companies
Part 3Temporary exemption following reorganisation etc
6
(1)
Section 748 of ICTA (cases where section 747(3) does not apply) is amended as follows.
(2)
After subsection (1)(e) insert
“; or
(f)
the accounting period ends during an exempt period in relation to the company (see Part 3A of Schedule 25).”
(3)
In subsection (3) for “(e)” substitute “
(f)
”
.