Statute
Section 257DE — Income Tax Act 2007: The financial health requirement
Text of the provision Official document
The financial health requirement 257DE 1 The issuing company must meet the financial health requirement at the beginning of period B.
2 The financial health requirement is that the issuing company is not in difficulty.
3 The issuing company is “in difficulty” if it is reasonable to assume that it would be regarded as a firm in difficulty for the purposes of the Community Guidelines on State Aid for Rescuing and Restructuring Firms in Difficulty (2004/C 244/02) as those guidelines had effect in the United Kingdom immediately before IP completion day .
Official source: legislation.gov.uk
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