CTM97790 | CTSA: group relief: simplified arrangements: change in members of a consortium

Regulation 8 SI1999/2975

Where there is a change in the members of the consortium that owns the consortium company, the authorised company must obtain a new agreement signed by all the members of the consortium following the change and by the consortium company. The new agreement must confirm that they all consent to the authorising company acting under the arrangement on their behalf.

Until you have notified the authorised company that you have accepted the revised agreement, the authorised company may not make claims and surrenders on behalf of the consortium company.

Guidance on consortium companies in simplified arrangements is at CTM97780.