Section 629A Company ceasing to be resident on formation of SE or SCE

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Amendments

Section 629A inserted by Finance Act 2006 section 60(d).

If at any time a company ceases to be resident in the State in the course of―

(a) the formation of an SE by merger, or

(b) the formation of an SCE,

then, whether or not the company continues to exist after the formation of the SE or (as the case may be) the SCE, the Tax Acts and the Capital Gains Tax Acts shall apply to any obligations of the company under this Act in relation to liabilities accruing and matters arising before that time―

(i) as if the company were still resident in the State, and

(ii) where the company has ceased to exist, as if the SE or (as the case may be) the SCE were the company.

What are the consequences where a company ceases to be resident in the course of forming an SE/SCE?

This rule applies where in the course of the formation of an SE/SCE, your company ceases to be resident in the Republic of Ireland....

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