Statute
Section 286B — Income Tax Act 2007: The financial health requirement
Text of the provision Official document
The financial health requirement 286B 1 The requirement of this section is that the relevant company is not, at the time of the issue of the relevant holding, in difficulty.
2 The relevant 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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