Material disposal - one year test



Condition B13 is that the conditions in (a) and (b) above are met throughout the period of one year ending with the date on which the company either ceases to be a trading company without continuing to be or becoming a member of a trading group, or ceases to be a member of a trading group without continuing to be or becoming a trading company, and that date is within three years of the date of disposal14. This condition can be satisfied if throughout part of the period of one year referred to above the company was a trading company, and throughout the remainder of the period it was the holding company of a trading group15. Company dissolutions under Companies Act 1985 ss 652, 652A where approval has been received under former Concession C16 may qualify16. This concession has now been legislated17, see D5.141.