Paragraph 5

In paragraph 4 of Schedule 7 (cases in which group relief is not withdrawn)—

(a)

in sub-paragraph (3), for paragraph (b) substitute—

“(b)
another company that—
(i)
is above the vendor in the group structure, and
(ii)
as a result of the transaction ceases to be a member of the same group as the purchaser.”, and

(b)

in sub-paragraph (5), for “this purpose” substitute “ the purposes of sub-paragraphs (3) and (4) ”.