17U.K.In Chapter 3 (the CFC charge gateway: determining which (if any) of Chapters 4 to 8 applies) in section 371CE (does Chapter 6 apply?) for subsections (4) and (5) substitute—
“(4)The CFC is a “group treasury company” in the accounting period if, assuming the relevant period were the accounting period—
(a)the CFC would be a group treasury company in the relevant period in accordance with section 316(2) (group treasury companies), and
(b)throughout the relevant period, the requirements of section 316(3)(a) and (b) would be met in relation to the CFC as a group treasury company.
(5)For the purpose of applying section 316 in accordance with subsection (4)—
(a)section 316(2) applies with the omission of paragraph (d), and
(b)section 337(1) (definition of “the worldwide group”) applies with the omission of paragraph (a).”