[227A Restriction of group relief]
Finance Act 1994 (1994 c 9) | Legislation

[227A  Restriction of group relief]

[(1)     Losses of the last active underwriting year of a corporate member are not eligible for surrender by the corporate member as group relief to another company unless the group-relief continuity condition is satisfied.

(2)     In this section “last active underwriting year”, in relation to a corporate member, means—

(a)     if the corporate member writes insurance business in only one underwriting year, that underwriting year, and

(b)     otherwise, the last underwriting

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