Textual Amendments
F1Sch. 34A inserted (15.9.2016) by Finance Act 2016 (c. 24), s. 160(5)
17(1)Sub-paragraph (2) applies if—U.K.
(a)there is (or has been) a person (“Q”),
(b)arrangements (“the defeated arrangements”) have been entered into,
(c)an event occurs such that either—
(i)there is a relevant defeat in relation to Q and the defeated arrangements, or
(ii)the condition in sub-paragraph (i) would be met if Q had not ceased to exist,
(d)at the time of that event a person (“P”) is carrying on a business as a promoter (or is carrying on what would be such a business under the condition in paragraph 3(2)), and
(e)Condition 1 or 2 is met in relation to Q and P.
(2)The event is treated for all purposes of this Part of this Act as a relevant defeat in relation to P and the defeated arrangements (whether or not it is also a relevant defeat in relation to Q, and regardless of whether or not P existed at any time when those arrangements were promoted arrangements in relation to Q).
(3)Condition 1 is that—
(a)P is not an individual,
(b)at a time when the defeated arrangements were promoted arrangements in relation to Q—
(i)P was a relevant body controlled by Q, or
(ii)Q was a relevant body controlled by P, and
(c)at the time of the event mentioned in sub-paragraph (1)(c)—
(i)Q is a relevant body controlled by P,
(ii)P is a relevant body controlled by Q, or
(iii)P and Q are relevant bodies controlled by a third person.
(4)Condition 2 is that—
(a)P and Q are relevant bodies,
(b)at a time when the defeated arrangements were promoted arrangements in relation to Q, a third person (“C”) controlled Q, and
(c)C controls P at the time of the event mentioned in sub-paragraph (1)(c).
(5)For the purposes of sub-paragraphs (3)(b) and (4)(b), the question whether arrangements are promoted arrangements in relation to Q at any time is to be determined on the assumption that the reference to “design” in paragraph (b) of section 235(3) (definition of “promoter” in relation to relevant arrangements) is omitted.]