Section 1043 — Corporation Tax Act 2010: Relaxation of requirements in certain cases

Relaxation of requirements in certain cases 1043 1 Subsection (2) applies if—

a any requirement under any of sections 1037 to 1042 which is applicable is not met in relation to the seller, but b the seller proposed or agreed to the purchase in order that the requirement in section 1037(2) or 1039(4) could be met in respect of the redemption, repayment or purchase of shares owned by a person of whom the seller is an associate.

2 So far as that result is achieved through the purchase, section 1033(2) has effect as if the requirements in sections 1037 to 1042 were met in relation to the seller.