# Finance (No. 2) Act 2023, Paragraph 4: First period of account where new holding company

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

In section 400A (carry forward of excess debt cap: new holding company), in subsection (3)—
(a) for “the group’s fixed ratio debt cap” substitute “the new group’s fixed ratio debt cap”;
(b) for “ending immediately before the qualifying takeover” substitute “ending on the day before the takeover day (see section 395A(3))”.

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Source: https://www.legislation.gov.uk/ukpga/2023/30/schedule/3/paragraph/4 (the official version)
Page: https://openlegislation.uk/finance-no-2-act-2023/schedule-3/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.