{
  "url": "https://openlegislation.uk/finance-act-2012/schedule-3/paragraph-10",
  "json_url": "https://openlegislation.uk/finance-act-2012/schedule-3/paragraph-10.json",
  "legislation": "ukpga/2012/14",
  "legislation_title": "Finance Act 2012",
  "legislation_url": "https://openlegislation.uk/finance-act-2012",
  "path": "schedule/3/paragraph/10",
  "kind": "paragraph",
  "number": "10",
  "heading": null,
  "text": "(1) Section 1046 (relief only available where company is going concern) is amended as follows.\n(2) At the end of subsection (2) insert—\n“This is subject to subsection (2A).”\n(3) After subsection (2) insert—\n“(2A) A company is not a going concern at any time if it is in administration or liquidation at that time.\n(2B) For the purposes of this section a company is in administration if—\n(a) it is in administration under Part 2 of the Insolvency Act 1986 or Part 3 of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)), or\n(b) a corresponding situation under the law of a country or territory outside the United Kingdom exists in relation to the company.\n(2C) For the purposes of this section a company is in liquidation if—\n(a) it is in liquidation within the meaning of section 247 of that Act or Article 6 of that Order, or\n(b) a corresponding situation under the law of a country or territory outside the United Kingdom exists in relation to the company.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2012/14/schedule/3/paragraph/10",
    "retrieved_at": "2026-10-29T09:08:44.989153+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."
}