Amalgamation and demerger.

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..... to the amalgamated company, if it is a qualifying company. (2) Where the amalgamated company is not a tonnage tax company, it shall exercise an option for tonnage tax scheme under section 231(1) within three months from the date of the approval of the scheme of amalgamation. (3) Where the amalgamating companies are tonnage tax companies, the provisions of this Part shall, as far as may be, apply .....

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..... far as may be, apply to the resulting company for the unexpired period, if it is a qualifying company. (6) The option for tonnage tax scheme in respect of the demerged company shall remain in force for the unexpired period of the tonnage tax scheme if it continues to be a qualifying company. - Clause 233 of the Bill seeks to provide for continuance of and validity of the scheme in the case of .....

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