Section FO 4 — Income Tax Act 2007: Rights and obligations of amalgamated companies

FO 4 Rights and obligations of amalgamated companies When this section applies (1) This section applies when an amalgamating company ends its existence on amalgamation. Amalgamated company assuming rights, obligations, and liabilities (2) For the tax year corresponding to the income year of amalgamation and all earlier tax years, the amalgamated company, under section 209G of the Companies Act 1955 or section 225 of the Companies Act 1993, or under this section in the case of an amalgamation of building societies,— (a) must comply with the obligations of the amalgamating company under the Inland Revenue Acts; and (b) must meet the liabilities of the amalgamating company under the Inland Revenue Acts; and (c) is entitled to the rights, powers, and privileges of the amalgamating company under the Inland Revenue Acts. Relationship with Companies Act 1993 (3) The amalgamation rules apply despite anything to the contrary in section 225(d) of the Companies Act 1993. Defined in this Act: amalgamated company , amalgamating company , amalgamation , amalgamation rules , income year , Inland Revenue Acts , tax year , Compare: 2004 No 35 ss FE 1(1)(c) , FE 8 Section FO 4(2): amended (with effect on 30 September 2010), on 29 August 2011, by section 47 of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63).