Section 43C Groups: termination of membership
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Amendments
Section 43C inserted by Finance Act 1999 section 16 and Schedule 2 para 2 with effect in accordance with the transitional provisions in Finance Act 1999 Schedule 2 para 6.
(1) The Commissioners may, by notice given to a body corporate, terminate its treatment as a member of a group from a date—
(a) which is specified in the notice, and
(b) which is, or falls after, the date on which the notice is given.
(2) The Commissioners may give a notice under subsection (1) above only if it appears to them to be necessary for the protection of the revenue.
(3) Where—
(a) a body is treated as a member of a group, and
(b) it appears to the Commissioners that the body is not, or is no longer, eligible [by virtue of section 43A]1 to be treated as a member of the group,
the Commissioners shall, by notice given to the body, terminate its treatment as a member of the group from a date specified in the notice.
Amendments
1 Substituted for the words “under section 43A(1)” by Finance Act 2004 from 22 July 2004.
(4) The date specified in a notice under subsection (3) above may be earlier than the date on which the notice is given but shall not be earlier than—
(a) the first date on which, in the opinion of the Commissioners, the body was not eligible to be treated as a member of the group, or
(b) the date on which, in the opinion of the Commissioners, the body ceased to be eligible to be treated as a member of the group.
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