Finance Act 2008
|
Certain transfers of assets between companies. |
42.— (1) The Principal Act is amended— | |
(a) in section 615(2)(a)— | ||
(i) in subparagraph (ii) by substituting “before that time,” for “before that time, and”, and in subparagraph (iii) by substituting “of the business), and” for “of the business)”, and | ||
(ii) by inserting the following after subparagraph (iii): | ||
“(iv) the company acquiring the assets is not an authorised investment company (within the meaning of Part XIII of the Companies Act 1990 ) that is an investment undertaking (within the meaning of section 739B),”, | ||
and | ||
(b) in section 617(1) by substituting the following for paragraph (c): | ||
“(c) the other company— | ||
(i) is resident in the State at the time of the disposal or the asset is a chargeable asset in relation to that company immediately after that time, and | ||
(ii) is not an authorised investment company (within the meaning of Part XIII of the Companies Act 1990 ) that is an investment undertaking (within the meaning of section 739B),”. | ||
(2) This section applies as respects a transfer, or as the case may be a disposal, on or after 18 February 2008. |