Schedules

Schedule 3 U.K. Corporate interest restriction etc.

Part 1 U.K. Amendments to TIOPA 2010

First period of account where new holding company U.K.

4 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))”.