Aggregation of losses in case of change in constitution of unincorporated body.

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..... e of the retirement, or death, of a participant, shall be reduced by the amount in proportion of the share of the retired, or deceased, participant. (2) The amount so reduced under sub-section (1) shall be the unabsorbed preceding rated body. year loss from ordinary sources, for the financial year beginning on the date immediately following the date of retirement, or death, of a participant for th .....

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..... ceding year loss from ordinary sources and unabsorbed preceding year loss from the special source in respect of an unincorporated body where a change has occurred in its constitution due to death, or retirement, of its participant, shall be construed as a reference to the amount so reduced under subsection (1) and sub-section (3) respectively. - - statute, statutory provisions legislation, law, .....

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