Section 325 The pool of ring fence losses and the pool of non-qualifying Schedule 19B losses

(1)

For the purpose of determining the amount of any post-commencement supplement, a qualifying company is to be taken at all times in its post-commencement periods to have a continuing mixed pool (the “ring fence pool”) of—

(a)

the carried forward qualifying Schedule 19B amount (if any),

(b)

the company's ring fence losses, and

(c)

post-commencement supplement.

(2)

The ring fence pool continues even if the amount in it is nil.

(3)

For the purpose of determining the amount of any post-commencement supplement, a qualifying company is also to be taken in its post-commencement periods to have a non-qualifying pool consisting of the carried forward non-qualifying Schedule 19B amount.

(4)

But the non-qualifying pool ceases to exist when the amount in it is reduced to nil.

(5)

In this section—

“the carried forward qualifying Schedule 19B amount”, in relation to a qualifying company, means the amount in its qualifying pool for the purposes of Part 4 of Schedule 19B to ICTA immediately before 1 January 2006, and
“the carried forward non-qualifying Schedule 19B amount”, in relation to a qualifying company, means the amount in its non-qualifying pool for the purposes of Part 4 of Schedule 19B to that Act immediately before 1 January 2006.