Section 28 | De-grouping charges (loan relationships etc)

(1)CTA 2009 is amended as follows.

(2)In each of sections 345 and 346 (loan relationships: transferee leaving group)—

(a)in subsection (2), omit “If condition A or B is met,”, and

(b)omit subsections (3) to (5).

(3)In each of sections 631 and 632 (derivative contracts: transferee leaving group)—

(a)in subsection (2), omit “If condition A or B is met,”, and

(b)omit subsections (3) and (4).

(4)An amendment made by this section has effect where the cessation of membership of the relevant group occurs on or after 1 April 2014.