Section 943 | The tax condition

(1)The tax condition is that, in the period mentioned in subsection (2), the transferred trade is carried on only by companies within the charge to corporation tax or income tax in respect of the trade.

(2)That period is the period—

(a)beginning with the latest time at which the requirement of section 941(1)(b) is met for the purposes of the ownership condition, and

(b)ending with the earliest time at which the requirement of section 941(1)(a) is met for the purposes of that condition.

(3)If at any time the activities of the transferred trade are actually included in the activities of another trade, subsection (1) applies in relation to that time as if references to the transferred trade were references to the other trade.