Commentary on Sections Overview Overview Section 686: Tax avoidance etc
1900.This section disapplies the Chapter if the merger is not effected for genuine commercial purposes unless the Commissioners for HMRC are satisfied, following an application, that this Chapter should apply. It is based on paragraph 30B(6), (7) and (8) of Schedule 26 to FA 2002.
1901.Subsections (2) and (3) provide a clearance procedure equivalent to that in the previous Chapter.