Finance Act 2020
|
Amendment of Part 3 of Schedule 26A to Principal Act (approval of body as eligible charity) | ||
|
72. Part 3 of Schedule 26A to the Principal Act is amended by inserting the following paragraph after paragraph 3: | ||
“3A. Where one or more than one body (each of which is referred to in this paragraph as a ‘restructured or amalgamated body’) has been the subject of any process of re-organisation (whether under Part 9 of the Companies Act 2014 or otherwise) such that the body or bodies has or have become amalgamated with another body (referred to in this paragraph as the ‘successor body’) and— | ||
(a) each restructured or amalgamated body has held an authorisation for not less than 2 years prior to the date of the initiation of the process of re-organisation, and | ||
(b) the winding up and distribution of all of the assets of each restructured or amalgamated body has been completed, | ||
then the successor body shall be deemed to comply with paragraph 3(c).”. |