Section 188BD | Restriction where investment business has become small or negligible ^F1

(1)The surrendering company may not surrender under this Chapter—

(a)a loss carried forward to the surrender period under section 753(3) of CTA 2009 if an investment business carried on by the surrendering company became small or negligible before the beginning of that period,

(b)expenses carried forward to the surrender period under section 1223 of CTA 2009 if the surrendering company's investment business became small or negligible before the beginning of that period, or

(c)a loss carried forward to the surrender period under section 62(5)(a) or 63(3)(a) if the surrendering company's investment business became small or negligible before the beginning of that period.

(2)In this section—

(a)“company with investment business” has the same meaning as in Part 16 of CTA 2009 (see section 1218B of that Act);

(b)references to a company's investment business are to be construed in accordance with section 1219(2) of CTA 2009.