Paragraph 2 F1F2
United Kingdom
A member of a worldwide group may revoke an appointment previously made under paragraph 1 in relation to a period of account.
The revocation is of no effect for the period of account unless it is authorised by more than half of the eligible companies for that period.
For this purpose a company is “eligible” if and only if the company—
was a UK group company at a time during the period of account, and
was not dormant throughout that period.
The revocation of an appointment does not prevent the making of a further appointment under paragraph 1 (whether at the same time as the revocation, or later).
Annotations
Textual amendments
- F1
Sch. 7A inserted (with effect in accordance with Sch. 5 para. 25(1)(2) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 5 para. 2 (with Sch. 5 para. 28)
- F2
Sch. 7A para. 2 substituted (with effect in relation to periods of account ending on or after 31.3.2026) by Finance Act 2026 (c. 11), s. 61(4)(21)