# Finance Act 2012, Paragraph 39


(1) Section 938M (group mismatch schemes: controlled foreign companies) is amended as follows.
(2) In subsection (1) for the words from the beginning to “company” substitute “ Section 371SL(1) of TIOPA 2010 (assumption that a CFC ”.
(3) In subsection (2)—
(a) for “chargeable profits” substitute “ assumed taxable total profits ”, and
(b) for “Chapter 4 of Part 17 of ICTA” substitute “ Part 9A of TIOPA 2010 ”.

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Source: https://www.legislation.gov.uk/ukpga/2012/14/schedule/20/paragraph/39 (the official version)
Page: https://openlegislation.uk/finance-act-2012/schedule-20/paragraph-39
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.