Interpretation

Orders of the Day — Finance Bill – in the House of Commons at 12:45 am on 10th July 1985.

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1. In this Part of this Schedule—

  1. (a) a "company owned by a consortium" means either such a trading company as is referred to in paragraph (a) or paragraph (b) of subsection (2) of section 258 of the Taxes Act or such a holding company as is referred to in paragraph (c) of that subsection (companies owned directly or indirectly by consortia);
  2. (b) a "consortium claim" means a claim for group relief made by virtue of subsection (2) of section 258 of the Taxes Act;
  3. (c) a "group claim" means a claim for group relief made by virtue of subsection (1) of that section;
  4. (d) a "group/consortium company" means a company which is both a member of a group of companies and a company owned by a consortium;
  5. (e) "relevant accounting period" means an accounting period beginning on or after 1st August 1985; and
  6. (f) other expressions have the same meaning as in section 258 and the following sections of Chapter I of Part XI of the Taxes Act.