{
  "url": "https://openlegislation.uk/finance-act-2011/schedule-11/paragraph-7",
  "json_url": "https://openlegislation.uk/finance-act-2011/schedule-11/paragraph-7.json",
  "legislation": "ukpga/2011/11",
  "legislation_title": "Finance Act 2011",
  "legislation_url": "https://openlegislation.uk/finance-act-2011",
  "path": "schedule/11/paragraph/7",
  "kind": "paragraph",
  "number": "7",
  "heading": null,
  "text": "(1) Paragraph 8 (change of a company's nature) is amended as follows.\n(2) In sub-paragraph (1)—\n(a) after “trade” (in each place) insert “ or business ”,\n(b) in paragraph (a) for “carried on by that company” substitute “ which was carried on by that company immediately before it became a member of that group ”, and\n(c) for “paragraph 7(1)(c) and (2)(c)” substitute “ paragraph 7(1A) ”.\n(3) For sub-paragraph (2) substitute—\n“(2) In sub-paragraph (1) “a major change in the nature or conduct of a trade or business” includes—\n(a) a major change in the type of property dealt in, or services or facilities provided, in the trade or business,\n(b) a major change in customers, markets or outlets of the trade or business, or\n(c) in the case of a company with investment business (within the meaning of section 1218 of CTA 2009), a major change in the nature of the investments held;\nand this paragraph applies even if the change is the result of a gradual process which began outside the period of three years mentioned in sub-paragraph (1)(a).”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2011/11/schedule/11/paragraph/7",
    "retrieved_at": "2026-10-29T09:09:31.813616+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}