Related Commentary  

419(1)  This section applies if–

(a)a company is treated under section 417(5) as incurring an expense in an accounting period of the company (“period 1”),

(b)the company makes a loss in period 1 or a later accounting period,

(c)apart from this section some or all of that loss (“the carried forward loss”) would be carried forward to the next accounting period of the company after the accounting period in which the loss is made (“the subsequent period”),

(d)some or all of the carried forward loss (“the derived loss”) derives from–

(i)the expense under section 417(5), or

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