Paragraph 53 F1

(1)

This paragraph applies if—

(a)

a closure notice is given to a company under paragraph 47,

(b)

a period of account of a worldwide group (“the new group”) is designated under paragraph 47(4) in the closure notice,

(c)

the company is not a member of the new group at any time in that period of account, and

(d)

paragraph 51 does not apply.

(2)

An officer of Revenue and Customs may appoint a company to be the reporting company of the new group in relation to that period.

(3)

The appointment—

(a)

must be of a company that was a UK group company at any time during that period and was not dormant throughout that period, and

(b)

must be made before the end of the period of 3 months beginning with the day on which the closure notice is given to the company.

Annotations

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)