Section 76 | Former and subsequent establishments regarded as distinct establishments

(1)If the company—

(a)at any time ceases to have a particular overseas permanent establishment in a particular territory (“the old establishment”), but

(b)subsequently again has an overseas permanent establishment in that territory (“the new establishment”),

the old establishment and the new establishment are, for the purposes of the provisions of sections 72 to 78 other than the excepted provisions, to be regarded as different overseas permanent establishments.

(2)In subsection (1) “the excepted provisions” means sections 73(2), 75 and 77.