# Finance Act 2024, Paragraph 10: Relief not to be available for companies in insolvency

Extent: E+W+S+N.I.

(1) After section 1217RK insert—
“Companies in insolvency
No claim if company in administration or liquidation
1217RKA (1) A company may not make a claim under section 1217RD or section 1217RG at a time when it is in administration or liquidation.
(2) For the purposes of this section, a company is in administration if—
(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
(b) a corresponding situation under the law of a country or territory outside the United Kingdom exists in relation to the company.
(3) For the purposes of this section, a company is in liquidation if—
(a) it is in liquidation within the meaning of section 247 of that Act or Article 6 of that Order, or
(b) a corresponding situation under the law of a country or territory outside the United Kingdom exists in relation to the company.”
(2) That amendment has effect in relation to claims made on or after 1 April 2024.

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Source: https://www.legislation.gov.uk/ukpga/2024/3/schedule/4/paragraph/10 (the official version)
Page: https://openlegislation.uk/finance-act-2024/schedule-4/paragraph-10
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.