Finance Act 19947

1

Section 227B of the Finance Act 19949 (transfer of underwriting business without change of ownership) is amended as follows.

2

In subsection (2)—

a

for “Section 343 of the Taxes Act 1988 (company reconstructions without a change of ownership)” substitute “Chapter 1 of Part 22 of the Corporation Tax Act 2010 (transfers of trade without a change of ownership)”,

b

in paragraph (a), for “the trade mentioned in that section” substitute “the transferred trade referred to in that Chapter10”, and

c

in paragraph (c), for “subsections (8) to (10) and (12)” substitute “sections 951 and 952”.