§ Sir E. Boyle
I beg to move, in page 35, line 24, to leave out from "it" to "nor" in line 25, and insert:unless each of them is engaged in carrying on a trade or business, or each of them was so engaged at the beginning of the chargeable period specified in the notice as the first of the periods as respects which the notice is to have effect".This Amendment implements an undertaking which my hon. and learned Friend the Solicitor-General gave during the Committee stage. Subsection (1) provides that:A grouping notice may not be given by a principal company as respects a subsidiary of it if either of them is not engaged in carrying on a trade or business …In Committee, Amendments were moved by my hon. Friend the Member for Langstone (Mr. Stevens) designed to enable a grouping notice to be given in respect of a period when both companies were trading, although one had stopped doing so when the notice was given. My hon. and learned Friend said that my 484 hon. Friend's Amendments were clearly right in principle. He could not accept the wording, which was not quite right, but he said that he would arrange for a suitable Amendment to be tabled upon Report—and this is it.
Mr. H. Wilson
After a prolonged study of the matter, we have come to the conclusion that this also seems reasonable.
§ Mr. Stevens
All I wish to do is to congratulate my hon. Friend upon correcting my bad draftsmanship, and to thank him for accepting the principle of the Amendment.
§ Amendment agreed to.