Section 676CD | Cases where consortium condition 3 or 4 was previously met

(1)If the requirement in subsection (3) is met, section 676CB(3) does not prevent a company from making under section 188CC a claim for group relief for carried-forward losses falling within subsection (2).

(2)A claim falls within this subsection if it is—

(a)for an accounting period (“the claim period”) ending after the change in ownership, and

(b)in relation to an amount surrendered by the transferred company which is a relevant pre-acquisition loss and is attributable to an accounting period of that company specified in the claim (“the specified loss-making period”).

(3)The requirement is that consortium condition 3 or consortium condition 4 is met throughout a period which—

(a)begins before or during the specified loss-making period, and

(b)ends with or after the time when the change in ownership occurs.

(4)For the purposes of a claim by virtue of this section, section 188CC(3) has effect as if requirement 3 were omitted.