(1)If the claimant company makes a claim for group relief based on consortium condition 2, the amount of group relief to be given on the claim is limited by subsections (2) and (3).
(2)There is a limit on the amount of group relief that can be given, in total, on consortium claims made by the link company and group companies in relation to the surrendering company’s surrenderable amounts for the surrender period.
(3)That limit is the maximum amount of group relief that could be given to the link company in relation to those amounts on consortium claims—
(a)assuming that no consortium claims in relation to those amounts were made by group companies based on consortium condition 2, and
(b)ignoring any lack of profits of the link company from which deductions could be made as mentioned in section 137(1).
(4)If the claimant company makes a claim for group relief based on consortium condition 3, the amount of group relief to be given on the claim is limited by subsections (5) to (7).
(5)There is a limit on the amount of group relief that can be given, in total, to the claimant company for the claim period on consortium claims made in relation to losses and other amounts surrendered by the link company and group companies.
(6)That limit is the same as the limit that, as a result of section 144(2), would apply for the purposes of a consortium claim made by the claimant company for the claim period in relation to losses or other amounts surrendered by the link company.
(7)In determining the limit that would apply as a result of section 144(2) it is to be assumed that the accounting period of the link company is the same as the accounting period of the claimant company.
(8)In this section—
“consortium claim” means a claim for group relief based on consortium condition 1, consortium condition 2 or consortium condition 3, and
“group company”, for the purpose of determining in accordance with this section a limitation on the amount of group relief to be given on a claim based on consortium condition 2 or consortium condition 3, means a company that is a member of the same group of companies as the link company (other than the link company itself).