Section 212C | When there is qualifying change in relation to C ^F1

(1)There is a qualifying change in relation to C on the relevant day if one or more of conditions A to D is met.^F1

(2)Condition A is that—^F1

(a)the principal company or companies of C at the beginning of the relevant day is not, or are not, the same as at the end of that day, or^F1

(b)there is no principal company of C at the beginning of the relevant day but there is one, or are more than one, at the end of the relevant day.^F1

(3)Condition B is that—^F1

(a)any principal company of C is a consortium principal company (“CPC”), and^F1

(b)CPC's ownership proportion at the end of the relevant day is more than at the beginning of the relevant day.^F1

(4)Condition C is that the relevant activity is a trade (within the meaning of this Part) and on the relevant day—^F1F2F3

(a)C ceases to carry on the whole or part of the relevant activity, and^F1F3

(b)it begins to be carried on in partnership by two or more companies,^F1

in circumstances in which Chapter 1 of Part 22 of CTA 2010 (transfers of trade without change of ownership) applies in relation to the transfer of the relevant activity.

(5)Condition D is that—^F1

(a)the relevant activity is, at the beginning of the relevant day, carried on by C in partnership, and^F1F4

(b)C's relevant percentage share in the relevant activity at the end of the relevant day is less than at the beginning of the relevant day (or is nil).^F1F4