Paragraph 12 Significant group undertakings transferring to another participant
Sub-paragraphs (2) to (5) apply where the following change occurs—
a participant (“G”) consists of a group;
a significant group undertaking (“H”) which was a member of G becomes a significant group undertaking as a member of another participant (“J”).
In respect of the change—
G and J must notify the administrator of the change and when it occurred;
in the notification of J, J must inform the administrator whether or not J requests that H may apply for registration as a separate participant; and
if such a request is made, H may make an application to be a participant and if it does, must do so in accordance with article 11.
Where H is registered as a participant separate from J, H must comply with Part 4 as if H had been a participant for the whole of the year in which the change occurs.
Where H is not registered as a separate participant, H is treated as if it was a significant group undertaking as a member of J for the whole of the year in which the change occurs.
Where the change occurs in an annual reporting year and—
G has a residual measurement list, G must amend its residual measurement list to exclude any residual supplies of H;
subject to sub-paragraph (6), where H is not registered as a separate participant and—
where—
J does not have a residual measurement list; and
G has a residual measurement list including residual supplies of H,
J must compile a residual measurement list from those residual supplies of H;
where J has a residual measurement list, J must amend its list to include the residual supplies of H.
Sub-paragraph (5)(b) does not apply where—
H is not registered as a separate participant; and
G has a group CCA exemption or had a member CCA exemption in respect of H.
Where G has a group CCA exemption or had a member CCA exemption in respect of H, J has a member CCA exemption in respect of H.