Part IIIIncome Tax, Corporation Tax and Capital Gains Tax
Chapter IITaxation of Chargeable Gains
Groups of companies etc.
139De-grouping charges
1
In section 179(2B) of the [1992 c. 12.] Taxation of Chargeable Gains Act 1992 (cases where there is a connection between groups successively left by a company)—
a
in paragraph (b), for the words from “company which” to “its” there shall be substituted “person or persons who control the company mentioned in paragraph (a) above or who have had it under their”;
b
in paragraph (c), for the words from “company which has” to “its” there shall be substituted “person or persons who have, at any time in that period, had under their”; and
c
in that paragraph, for “fallen”, wherever it occurs, there shall be substituted “been a person falling”.
2
Subsection (1) above has effect in relation to a company in any case in which the time of the company’s ceasing to be a member of the second group is on or after 17th March 1998.