A ‘disqualifying event’ occurs if and when:

The company (C) ceases to meet the trading requirement (see 2.8). This would occur if, for example, C sells its business or its trading subsidiaries.

The settlement ceases to meet the all-employee benefit requirement (see 2.9) for any reason or the trustees act in a way that the trusts, as required by the all-employee benefit requirement, do not permit. This could, for example, be because:

the terms of the trust deed are altered to permit the exercise of a dispositive power in a manner that does not accord with the restrictions in TCGA 1992, s. 236J; or

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