[371JC When does an exempt period begin?]
Taxation (International and Other Provisions) Act 2010 (2010 c 8) | Legislation

[371JC  When does an exempt period begin?]

[(1)     An exempt period of a CFC begins at any time (“the relevant time”) during an accounting period of the CFC if—

(a)     the initial condition is met,

(b)     the charging condition is met at the relevant time, and

(c)     at no time during the relevant preceding period (if there is one) is the charging condition met.

(2)     The initial condition

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