Statute
Section 1074 — Corporation Tax Act 2010: Purpose of provisions about demergers
Text of the provision Official document
Purpose of provisions about demergers 1074 1 The purpose of the provisions about demergers is to facilitate certain transactions by which trading activities carried on by a single company or group are divided so as to be carried on—
a by two or more companies not belonging to the same group, or b by two or more independent groups.
2 In subsection (1) “ the provisions about demergers ” means—
a this Chapter, except section 1078 (and section 1075, so far as relating to section 1078),
and b section 1028 (chargeable payments not treated as repayments of share capital).
Official source: legislation.gov.uk
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