{
  "url": "https://openlegislation.uk/corporation-tax-act-2010/section-132",
  "json_url": "https://openlegislation.uk/corporation-tax-act-2010/section-132.json",
  "legislation": "ukpga/2010/4",
  "legislation_title": "Corporation Tax Act 2010",
  "legislation_url": "https://openlegislation.uk/corporation-tax-act-2010",
  "path": "section/132",
  "kind": "section",
  "number": "132",
  "heading": "Consortium condition 1",
  "text": "(1) Consortium condition 1 is met if subsection (2) or (3) applies.\n(2) This subsection applies if—\n(a) the surrendering company is a trading company or a holding company,\n(b) the surrendering company is owned by a consortium,\n(c) the claimant company is a member of the consortium, and\n(d) both companies are UK related.\n(3) This subsection applies if—\n(a) the claimant company is a trading company or a holding company,\n(b) the claimant company is owned by a consortium,\n(c) the surrendering company is a member of the consortium, and\n(d) both companies are UK related.\n(4) But consortium condition 1 is not met if a profit on a sale within subsection (5) by the company that is the member of the consortium would be a trading receipt of the member.\n(5) A sale is within this subsection if it is a sale of—\n(a) the share capital the member owns in the company owned by the consortium, or\n(b) if that company is owned by the consortium as a result of section 153(3) (consortiums involving holding companies), the share capital the member owns in the holding company in question.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "C",
      "label": "C1",
      "text": "Pt. 5 modified by 2009 c. 4, s. 1218ZDB(2) (as inserted (for specified purposes and with effect in accordance with Sch. 6 paras. 20, 21(1)(a) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 6 para. 1 (with Sch. 6 para. 21(3)))"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2010/4/section/132",
    "retrieved_at": "2026-10-29T09:10:29.433154+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}