SCHEDULE 11 Taxation Provisions
Electricity Act 1989 (1989 c 29) | Legislation

SCHEDULE 11 Taxation Provisions

Section 90

General

1

(1)     Subject to sub-paragraphs (2) and (3) below, the following provisions shall apply for the purposes of the Corporation Tax Acts, namely—

(a)     all the trades or parts of trades carried on by the existing bodies which are transferred by this Act to successor companies shall be treated as having been, at the time of their commencement and at all times since that time, separate trades carried on by those companies respectively;

(b)     the trade carried on by each of those companies after the transfer date shall be treated as the same trade as that which, by virtue of paragraph (a) above, it is treated as having carried on before that date;

(c)     all property, rights and liabilities of an existing body which are transferred by this Act to a successor company shall be treated as having been, at the time when they became vested in that body and at all times since that time, property, rights and liabilities of that company; and

(d)     anything done by an existing body in relation to property, rights and liabilities which are transferred by this Act to a successor company shall be deemed to

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