Introduction Equity holders Overview Section 142: Meaning of “the overlapping period”
549.This section defines “the overlapping period” for Chapter 4 of this Part of the Act. It is based on section 403A of ICTA. The expression as defined in this section is used in sections 139, 140, 143 and 144.
550.Subsection (1) is the basic rule. The overlapping period is the period that is common to:
	the surrender period (of the surrendering company – defined in section 99(7)); and
	the claim period (of the claimant company – defined in section 130(2)).
551.Subsection (2) excludes from the overlapping period any part of it during which the conditions for relief are not satisfied.
552.Subsection (3) sets out the conditions for relief that have to be satisfied during the overlapping period. Only one of the conditions is relevant to any claim. They are the conditions set out in sections 131 to 133 (for UK related companies) and 136 (for EEA related companies).