Section 937B — Corporation Tax Act 2010: Group schemes and single company schemes

Group schemes and single company schemes 937B 1 A risk transfer scheme may be—

a a group scheme, or b a risk transfer scheme other than a group scheme (a “single-company scheme”).

2 A risk transfer scheme to which a company (“company A”) is a party is a “group scheme” if at least one company other than company A is at any time both—

a associated with company A, and b a party to the scheme.

3 In this Part “ the relevant group ” means—

a company A, and b each company other than company A in relation to which the condition in subsection (2) is met.

4 In its application in relation to single company schemes, this Part applies subject to the following modifications.

5 The modifications are that—

a references to the relevant group, a member of the relevant group, or the members of the relevant group, are treated as references to company A, and b sections 937E(2) and 937L(2) are treated as omitted.