14(1)Subject to sub-paragraph (2), section 14 does not apply to a company if immediately before 1 April 2009 section 66(1) of FA 1988 did not apply to the company because of paragraph 2(1) of Schedule 7 to that Act (certain companies which ceased to be UK resident on or after 15 March 1988 in pursuance of a Treasury consent).
(2)If at any time a company falling within sub-paragraph (1)—
(a)ceases to carry on business, or
(b)becomes UK resident,
section 14 applies in relation to the company after that time.