Section 1179CF | Priority of discharge ^F1

(1)An amount within subsection (2) is to be applied as described in that subsection before any amount within subsection (3) is applied as described in that subsection.^F1

(2)An amount is within this subsection if it is to be applied under—^F1

(a)section 1179CD(4), or^F1

(b)section 1179CE(3) as it applies in relation to an amount surrendered under section 1179CD(2) or (5),^F1

in discharging the liability of a company to pay corporation tax for an accounting period.

(3)An amount is within this subsection if it is to be (or would but for subsection (1) be) applied under—^F1

(a)section 1179CC, or^F1

(b)section 1179CE(3) as it applies in relation to an amount surrendered under section 1179CC,^F1

in discharging the same liability as an amount within subsection (2).