Related Commentary  

413(1)  For the purposes of section 412, a company is a group company in relation to another company if–

(a)it controls, or is controlled by, the other company, or

(b)both companies are under the control of another person.

413(2)  Section 412 does not apply if–

(a)section 410 (UK oil licences: limit is original licence payment) applies to the acquisition, or

(b)the acquisition is a sale in respect of which an election is made under section 569 (election to treat sale as being for an alternative amount).

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