Regulation 5 Notice

(1)

If the Conditions in regulation 6 are satisfied, a company to which Part 4 applies (“venturing company”) may give notice for these Regulations to apply.

(2)

The notice (a “joint venture group look through notice”) must specify—

(a)

the accounting period of the venturing company from the beginning of which these Regulations are to apply, and

(b)

the principal company of the joint venture group to which these Regulations are to apply.

(3)

The notice must be given in writing to the Commissioners for Her Majesty’s Revenue and Customs.

(4)

The notice must be signed by the company secretary or a director of—

(a)

the venturing company, and

(b)

the principal company of the joint venture group to which these Regulations are to apply.

(5)

A venturing company may give a joint venture group look through notice—

(a)

at the same time as it gives notice under section 109 (notice to enter the Real Estate Investment Trust regime)^f1, or

(b)

at any time when Part 4 applies to it.

(6)

The notice must be given before the beginning of the specified accounting period.

This paragraph is subject to paragraphs (7) to (9).

(7)

A venturing company may give, within a period of 60 days beginning with the day on which these Regulations come into force, a joint venture group look through notice in respect of an accounting period that began on or after 1st January 2007 but before the date on which these Regulations come into force.

Annotations

Footnotes

f1: Section 109 was amended by paragraph 5 of Schedule 17 to the Finance Act 2007.