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Notices of Amendments: 12 May 2011                     

64

 

Finance (N, continued

 
 

(a)    

sub-paragraphs (1) and (3) apply in relation to that group as if the

 

references in those sub-paragraphs to the passing of this Act were

 

references to 1 April 2011, and

 

(b)    

sub-paragraph (2) applies in relation to any disposal of shares by a

 

member of that group as if the reference in that sub-paragraph to the

 

passing of this Act were a reference to 1 April 2011.

 

      (5)  

An early commencement election in relation to a group means an election

 

made for the purposes of this paragraph by the principal company of the group.

 

      (6)  

If a company ceases to be a member of a group in the period which begins with

 

1 April 2011 and ends with the passing of this Act, an early commencement

 

election may be made or revoked in relation to the group only with the consent

 

of that company contained in a notice which accompanies the election or

 

revocation.

 

      (7)  

Where an early commencement election is revoked, the election is treated as

 

never having had effect.

 

      (8)  

An early commencement election may not be made or revoked after 31 March

 

2012 (and paragraph 3(1)(b) of Schedule 1A to the Management Act

 

(amendment of elections etc) does not apply in relation to an early

 

commencement election).’

 


 
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Revised 13 May 2011