SCHEDULES
SCHEDULE 11Pre-entry losses
TCGA 1992
3
1
Paragraph 1 (application and construction of Schedule) is amended as follows.
2
In sub-paragraph (1) for “is or has been” substitute “
becomes
”
.
3
For sub-paragraph (2) substitute—
2
In this Schedule “pre-entry loss”, in relation to any company, means any allowable loss that accrued to that company at a time before it became a member of the relevant group.
4
Omit sub-paragraphs (3), (3A), (4) and (5).
5
In sub-paragraph (6) for “Subject to” to “if” substitute “
If
”
.
6
Omit sub-paragraph (8).