Finance (No. 2) Act 2023
Write the words of this act the way you think they should read. Solon shows your change as a redline against the published text and pins it to that exact text, so it can never be applied to wording you did not see.
Change 1
233 Treatment of protected cell companies
(1) For the purposes of this Part— (a) a protected cell company is not to be regarded as an entity, and (b) each part of a protected cell company is to be treated as an entity distinct from the others. (2) Accordingly— (a) the fact an entity is a part of a protected cell company is irrelevant to determining whether it is a member of a consolidated group, and (b) the accounts of the protected cell company are not to be regarded as consolidated financial statements. (3) In this Part— “protected cell company” means a protected cell company incorporated under Part 4 of the Risk Transformation Regulations 2017 (S.I. 2017/1212); a “part” of a protected cell company means its core or a cell of the company; “core” and “cell” have the meaning they have in those regulations.
233 Treatment of protected cell companies
(1) For the purposes of this Part— (a) a protected cell company is not to be regarded as an entity, and (b) each part of a protected cell company is to be treated as an entity distinct from the others. (2) Accordingly— (a) the fact an entity is a part of a protected cell company is irrelevant to determining whether it is a member of a consolidated group, and (b) the accounts of the protected cell company are not to be regarded as consolidated financial statements. (3) In this Part— “protected cell company” means a protected cell company incorporated under Part 4 of the Risk Transformation Regulations 2017 (S.I. 2017/1212); a “part” of a protected cell company means its core or a cell of the company; “core” and “cell” have the meaning they have in those regulations.
One line that says what changes, such as "Halve the dog tax".
Who it helps, what it costs, what it fixes. It is what persuades people to support it.
A proposal here is not law. Support on Solon is evidence that people want the change; the official route says what it takes to make it law.
Sign in to file your proposal. What you have written stays on this page.
Sign in to file itThink it through
Ask what your change would do, who would gain and who would bear a cost, and where something like it is already law. The assistant reads your draft as it stands, cites the law and the studies it finds, and takes no side. What you file stays yours.