Section 1179CG — Corporation Tax Act 2009: No credit payable if company in administration or liquidation

No credit payable if company in administration or liquidation 1179CG 1 No amount may be paid to a company at step 6 of section 1179CC if, when the company claims the expenditure credit from which the amount is derived, the company is in administration or liquidation.

2 For the purposes of this section, a company is in administration if—

a it is in administration under Part 2 of the Insolvency Act 1986 or Part 3 of the Insolvency (Northern Ireland) Order 1989 ( S.I. 1989/2405 (N.I. 19)) , or b a corresponding situation under the law of a country or territory outside the United Kingdom exists in relation to the company.

3 For the purposes of this section, a company is in liquidation if—

a it is in liquidation within the meaning of section 247 of that Act or Article 6 of that Order, or b a corresponding situation under the law of a country or territory outside the United Kingdom exists in relation to the company.