Corporation Tax Act 2010 section 269ZH

Insolvency procedures

Section 269ZH defines what it means for a company to be "subject to insolvency procedures" for the purposes of the general insurance company exclusion under section 269ZG.

• A company is subject to insolvency procedures if it is in liquidation, in administration, in receivership, or subject to a relevant compromise or arrangement scheme
• Each type of insolvency procedure is defined by reference to UK insolvency legislation, including both the Insolvency Act 1986 and the equivalent Northern Ireland provisions
• Equivalent procedures under the laws of countries or territories outside the United Kingdom are also recognised for each category
• A "relevant scheme" means a compromise or arrangement under the Companies Act provisions (including Parts 26 and 26A of the Companies Act 2006) or any corresponding overseas provision