165(1)Section 147(3) and (5) do not apply in calculating for any chargeable period the profits and losses of a potentially advantaged person if that person is a company which meets the condition in subsection (2).
165(2) The condition is that–
(a)the company was dormant throughout the pre-qualifying period, and
(b)apart from section 147, the company has continued to be dormant at all times since the end of the pre-qualifying period.
165(3) In subsection (2) “the pre-qualifying period” means–