831 The genuine commercial transaction requirement and clearance
Corporation Tax Act 2009 (2009 c 4) | Legislation

The genuine commercial transaction requirement and clearance

831  The genuine commercial transaction requirement and clearance

(1)     For the purposes of this Chapter, a reconstruction, transfer or merger meets the genuine commercial transaction requirement if it—

(a)     is effected for genuine commercial reasons, and

(b)     does not form part of a scheme or arrangements of which the main purpose, or one of the main purposes, is avoidance

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