HC Deb 10 July 1985 vol 82 cc1220-1

9.— (1) At the beginning of subsection (3) there shall be inserted the words "Subject to subsections (3A) and (3B) below".

(2) In that subsection for the words from "are made" to "relate to" there shall be substituted the words "relating to".

(3) In that subsection after the words "surrender company", in the first place where they occur, there shall be inserted "arc made by two or more claimant companies which themselves are members of a group of companies".

10. After subsection 83) there shall be inserted the following subsections:— (3A) If companies which are members of different groups make claims falling within subsection (3) above, that subsection shall apply separately in relation to the companies in each group. (3B) For the purposes of subsection (3) above, there shall be left out of account a claim made by a company if—

  1. (a) the claimant company joins or leaves a group of companies at the same time as the surrendering company; and
  2. (b) both before and after that time either the claimant company is a 75 per cent. subsidiary of the surrendering company or the surrendering company is a 75 per cent. subsidiary of the claimant company or both companies are 75 per cent. subsidiaries of another company."

11. — (1) In subsection (4) for the words "If claims for group relief" there shall be substitued "Subject to subsection (4A) below, if claims as respects two or more surrendering companies which themselves are members of a group of companies".

(2) In that subsection the words "as respects more than one surrendering company" shall be omitted.

12. After subsection (4) there shall be inserted the following subsections:—

  1. "(4A) If claims falling within subsection (4) above are made as respects surrendering companies which are members of different groups, that subsection shall apply separately in relation to claims as respects the surrendering companies in each group.
  2. (4B) For the purposes of subsection (4) above, there shall be left out of account a claim made as respects a surrendering company if—
    1. (a) the surrendering company joins or leaves the group of companies concerned at the same time as the claimant company; and
    2. (b) both before and after that time either the surrendering company is a 75 per cent. subsidiary of the claimant company or the claimant company
    1221 is a 75 per cent. subsidiary of the surrendering company or both companies are 75 per cent. subsidiaries of another company."

13. For subsection (5) there shall be substituted the following subsection:— (5) References in subsection (3) to (4A) above to claims for group relief do not include references to consortium claims, that is to say, claims made by virtue of section 258(2) above.".'.—[Mr. Peter Rees.]

Brought up, read the First and Second time, and added to the Bill.

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