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Section 43D Groups: duplication

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Amendments

Section 43D inserted by Finance Act 2004 section 20(2) from 22 July 2004.

(1) A body corporate may not be treated as a member of more than one group at a time.

(2) A body which is a member of one group is not eligible by virtue of section 43A to be treated as a member of another group.

(3) If—

(a) an application under section 43B(1) would have effect from a time in accordance with section 43B(4), but

(b) at that time one or more of the bodies specified in the application is a member of a group (other than that to which the application relates),

the application shall have effect from that time, but with the exclusion of the body or bodies mentioned in paragraph (b).

(4) If—

(a) an application under section 43B(2)(a) would have effect from a time in accordance with section 43B(4), but

(b) at that time the body specified in the application is a member of a group (other than that to which the application relates),

the application shall have no effect.

(5) Where a body is a subject of two or more applications under section 43B(1) or (2)(a) that have not been granted or refused, the applications shall have no effect.

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