Section 463I | Re-application of section 463G if any deficit remains after previous application

(1)This section applies if—

(a)any amount of the deficit is carried forward to an accounting period (“the later period”) of the company under section 463G(6),

(b)any of that amount is not—

(i)set off against the company's total profits for the later period on a claim under section 463G(7), or

(ii)surrendered as group relief for carried-forward losses under Part 5A of CTA 2010,

(c)it is not the case—

(i)that the company ceased to be a company with investment business in the later period, or

(ii)(if the company was a company with investment business immediately before the beginning of the later period) that its investment business became small or negligible in the later period, and

(d)it is not the case that the first accounting period after the later period is an excluded accounting period of a general insurance company.

(2)Subsections (6) to (10) of section 463G apply as if—

(a)references to the unrelieved amount were to so much of the amount of the deficit carried forward to the later period as is not set off or surrendered as mentioned in subsection (1)(b), and

(b)references to the deficit period were to the later period.