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Legislation
Finance (No. 2) Act 2023

Crossheading Mergers and demergers

  • Section 61 Mergers: general provisions
  • Section 62 Modified “small production premises” test
  • Section 63 Modified duty discount
  • Section 64 Adjusted post-merger amount
  • Section 65 Early termination of merger transition period
  • Section 66 Subsequent mergers
  • Section 67 Simultaneous mergers
  • Section 68 Demergers
  1. Mergers and demergers
  2. Mergers: general provisions

Section 61 | Mergers: general provisions

From legislation.gov.uk

(1)This section and sections 62 to 67 apply where a small producer (“SP1”) becomes connected with another small producer (“SP2”).

(2)“Post-merger production group” means the production group that consists of—

(a)every set of premises on which SP1 or SP2 produces alcoholic products, and

(b)every set of connected premises,

and references to “post-merger production group premises” are to premises within paragraph (a) or (b).

(3)In relation to the post-merger production group—

(a)“Year 1” means the production year in which SP1 and SP2 become connected with one another,

(b)“Year 2” means the production year immediately following Year 1,

(c)“Year 3” means the production year immediately following Year 2, and

(d)the “pre-merger year” means the production year immediately preceding Year 1.

(4)Each of Year 1, Year 2 and Year 3 is a “merger transition year” in relation to the post-merger production group, unless any of the following apply—

(a)section 65 (early termination of merger transition period),

(b)section 66 (subsequent mergers), or

(c)section 68(8) (demergers in a merger transition year).

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