This section regulates the position in regard to companies joining or leaving a group or consortium. Relief will be given only if the surrendering and claimant companies are members of the same group or consortium during the whole of the surrendering company's accounting period to which the claim relates and during the whole of the corresponding accounting period of the claimant company. The companies need not be in group relationship at the time when the relief is claimed, which may be some time after the relevant accounting periods.
SECTION 119.
Question proposed: " That section 119 stand part of the Bill."
Question put and agreed to.