Section 198L | Expenditure by member of same group ^F1

(1)Section 198J applies where—^F1

(a)the disposal is by a company which, at the time of the disposal, is a member of a group of companies (within the meaning of section 170),^F1

(b)the E&A expenditure or expenditure on oil assets is by another company which, at the time the expenditure is incurred, is a member of the same group, and^F1

(c)the claim under section 198J is made by both companies,^F1

as if both companies were the same person.

(2)“E&A company”, “E&A expenditure” and “oil assets” have the meaning given by section 198J.^F1