Taxes Consolidation Act 1997 Schedule 18B, paragraph 23

Meaning of "merger" and "demerger"

Paragraph 23 defines the terms "merger" and "demerger" for the purposes of Schedule 18B.

• A merger is a transaction by which one or more companies become members of a group.
• A demerger is a transaction by which one or more companies cease to be members of a group.
• A reference to a merger to which a group is a party includes any merger affecting a member of that group.
• These definitions apply throughout Schedule 18B wherever the terms "merger" and "demerger" are used.