# Finance (No. 2) Act 2017, Paragraph 74


After section 674 insert—
“Section 674: exception for certain losses of ring fence trade
674A (1) Section 674 does not prevent relief being given for a loss if—
(a) the loss is made in a ring fence trade,
(b) the loss is not a non-decommissioning loss,
(c) it is condition A in section 673 that is met, and
(d) the major change by reference to which that condition is met did not occur within a period of 3 years in which the change in ownership occurred.
(2) In this section—
“non-decommissioning loss” is to be interpreted in accordance with section 303A;
“ring fence trade” has the same meaning as in Part 8 (see section 277).”

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Source: https://www.legislation.gov.uk/ukpga/2017/32/schedule/4/paragraph/74 (the official version)
Page: https://openlegislation.uk/finance-no-2-act-2017/schedule-4/paragraph-74
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.