# Corporation Tax Act 2010, Section 269CL: When a company first begins to carry on relevant regulated activities


(1) For the purposes of this Chapter, a company first begins to carry on a relevant regulated activity on a particular day if the company—
(a) begins to carry on a relevant regulated activity on that day, and
(b) has not carried on any relevant regulated activity before that day.
This is subject to subsection (2).
(2) Where—
(a) there is a transfer of a trade, and
(b) immediately before the transfer the predecessor carried on a relevant regulated activity,
the successor is to be treated as having first begun to carry on a relevant regulated activity on the day on which the predecessor first began to carry on such an activity.
(3) Section 940B (meaning of “transfer of a trade” etc) applies for the purposes of this section as it applies for the purposes of Chapter 1 of Part 22.

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Source: https://www.legislation.gov.uk/ukpga/2010/4/section/269CL (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2010/section-269CL
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.