# Corporation Tax Act 2010, Section 188CF: Consortium condition 1


(1) Consortium condition 1 is met if—
(a) the claimant company is a trading company or a holding company,
(b) the claimant company is owned by a consortium,
(c) the surrendering company is a member of the consortium, and
(d) both companies are UK related.
(2) But consortium condition 1 is not met if a profit on a sale within subsection (3) by the surrendering company would be a trading receipt of the surrendering company.
(3) A sale is within this subsection if it is a sale of—
(a) the share capital the surrendering company owns in the claimant company, or
(b) if the claimant company is owned by the consortium as a result of section 153(3) (consortiums involving holding companies), the share capital the surrendering company owns in the holding company in question.

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Source: https://www.legislation.gov.uk/ukpga/2010/4/section/188CF (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2010/section-188CF
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.