Income Tax Act (Cap. 123), article 19

19. If, apart from this article, a company is a member of a group of companies, and arrangements are in existence the sole or main purpose of which is to reduce any company’s tax liability, and by virtue of the said arrangeme nts that company would cease to be a member of that group of compan ies, then that company shall be treated as not being a member of that group of companies for an y year preceding a year of assessmen t in which the said arrangeme nts are in existence. Exclusion of double reliefs. Added by: XVII. 1994.13.