Schedules
Schedule 3Corporate interest restriction etc.
Part 1Amendments to TIOPA 2010
4First period of account where new holding company
In section 400A (carry forward of excess debt cap: new holding company), in subsection (3)—
a
for “the group’s fixed ratio debt cap” substitute “the new group’s fixed ratio debt cap”
;
b
for “ending immediately before the qualifying takeover” substitute “ending on the day before the takeover day (see section 395A(3))”
.