Section 356H | Introduction to sections 356HA and 356HB ^F1

(1)Sections 356HA and 356HB apply where a company (“the transferor”)—

(a)disposes of the whole or part of its share of the equity in a licensed area that is or contains a site;

(b)immediately before the disposal holds (unactivated) onshore allowance for the site concerned.

(2)Each company to which a share of the equity is disposed of is referred to in section 356HB as “a transferee”.