# Finance Act 2000, Paragraph 128


(1) This paragraph applies where a tonnage tax group splits into two or more groups.
(2) In that case each new group that contains a qualifying company that was a tonnage tax company before the demerger is a tonnage tax group as if a group election had been made.
(3) That deemed election continues in force, subject to the provisions of this Schedule, until the group election would have expired.

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Source: https://www.legislation.gov.uk/ukpga/2000/17/schedule/22/paragraph/128 (the official version)
Page: https://openlegislation.uk/finance-act-2000/schedule-22/paragraph-128
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.