5The company shall be assumed to be neither a member of a group of companies nor a member of a consortium for the purposes of any provision of the Tax Acts.
6(1)In relation to section 256 of the Taxes Act (group income) it shall be assumed—
(a)that the conditions for the making of an election under subsection (1) are not fulfilled with respect to dividends paid or received by the company ; and
(b)that the conditions for the making of an election under subsection (2) are not fulfilled with respect to payments made or received by the company.
(2)References in sub-paragraph (1) above to dividends or payments received by the company apply to any received by another person on behalf of or in trust for the company, but not to any received by the company on behalf of or in trust for another person.
7The company shall be assumed not to be a subsidiary to which the benefit of any advance corporation tax may be surrendered under section 92 of the [1972 c. 41.] Finance Act 1972.