SCHEDULE 34 Stamp Duty: Withdrawal of Group Relief: Supplementary Provisions
Finance Act 2002 (2002 c 23) | Legislation

SCHEDULE 34 Stamp Duty: Withdrawal of Group Relief: Supplementary Provisions

Section 111

Introduction

1

(1)     The provisions of this Schedule supplement section 111 (withdrawal of group relief).

(2)     Expressions used in this Schedule that are defined for the purposes of that section have the same meaning in this Schedule.

Relief not withdrawn if transferor company leaves group

2

(1)     Section 111 does not apply if the transferee company ceases to be a member of the same group as the transferor company by reason of the latter company leaving the group.

(2)     The transferor company is regarded as leaving the group if the companies cease to be members of the same group by reason of a transaction relating to shares in—

(a)     the transferor company, or

(b)     another company that as a result of the transaction ceases to be a member of the same group as the transferee company.

Relief not withdrawn in case of winding-up

3

(1)     Section 111 does not apply if the transferee company ceases to be a member of the same group as the transferor company by reason of anything done for the purposes of, or in the course of, winding

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