Nomination of allocating member
This section has no associated Explanatory Memorandum
3.—(1) A member of group G may be nominated to be the allocating member of the group by the ultimate parent of group G.
(2) The nomination must—
(a)be made in writing to HMRC,
(b)be signed by the appropriate person in relation to the ultimate parent, and
(c)state the first accounting period for which the nomination is to have effect.
(3) A nomination has effect until—
(a)substituted by a new nomination made in accordance with paragraphs (1) and (2),
(b)revoked by notice in writing to HMRC by the appropriate person in relation to the ultimate parent of group G, or
(c)the allocating member ceases to be a member of group G.