138 Ceasing to meet trading requirement because of administration or receivership
Income Tax Act 2007 (2007 c 3) | Legislation

138  Ceasing to meet trading requirement because of administration or receivership

(1)     A company is not regarded as ceasing to meet the trading requirement merely because of anything done in consequence of the company or any of its subsidiaries being in administration or receivership.

This has effect subject to subsections (2) and (3).

(2)     Subsection (1) applies only if—

(a)     the entry into administration or receivership, and

(b)

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