Paragraph 13

(1)

Subject to sub-paragraph (2), section 14 does not apply to a company if—

(a)

immediately before 15 March 1988 the company was non-UK resident, having ceased to be UK resident under a Treasury consent, and

(b)

immediately before 1 April 2009 section 66(1) of FA 1988 did not apply to the company because of paragraph 1(1) of Schedule 7 to that Act (certain companies which ceased to be UK resident before 15 March 1988 in pursuance of a Treasury consent).

(2)

If at any time a company falling within sub-paragraph (1)—

(a)

ceases to carry on business,

(b)

becomes UK resident, or

(c)

if the Treasury consent was a general consent, ceases to be taxable in a territory outside the United Kingdom,

section 14 applies in relation to the company after that time.