16DChanges in ownership of business etc.

#### 16D Changes in ownership of business etc. (1) Where, during or after the period that is the base period in relation to a person in relation to a rebate year but before the commencement of that rebate year, that person (in this subsection referred to as the purchaser) acquired from another person (in this subsection referred to as the vendor), whether by purchase or otherwise, a business or any industrial property rights, the amount that would otherwise be the value of export sales of the purchaser for that base period shall be deemed to be increased: (a) except where the next succeeding paragraph applies—by an amount equal to so much of the value of export sales (apart from this section) of the vendor, and an amount equal to so much of the value of export sales (apart from this section) of any previous owner of the business or rights, for a year that is included in the base period in relation to the vendor in relation to the rebate year as is attributable to the business or rights, as the case may be; or (b) where the acquisition took place during the base period first referred to in this subsection and the base period of the vendor and the purchaser respectively in relation to the rebate year are not the same period—such part of the amount, or for each of the amounts, specified in the last preceding paragraph as bears to that amount, or to that sum, the same proportion as the number of days from and including the first day of the base period of the purchaser in relation to the rebate year to and including the day next preceding the day of the acquisition bears to the number of days in the whole of that base period. (2) Where, during a rebate year, a person acquired from another person, whether by purchase or otherwise, a business or any industrial property rights, the amount that would otherwise be the value of export sales of the first‑mentioned person for a year of the base period in relation to that person in relation to that rebate year shall be deemed to be increased by an amount or amounts equal to so much of any amount by which that value would be required, under the last preceding subsection, to be deemed to be increased if the acquisition had taken place immediately before the rebate year as bears to that amount, or as bears to each of those amounts, as the case may be, the same proportion as the number of days from the date of the acquisition to the end of the rebate year bears to the number of days in the whole of the rebate year. (3) Where, during or after the base period in relation to a person in relation to a rebate year, that person has disposed of a business or any industrial property rights, the amount that would otherwise be the value of export sales of that person for that base period shall be reduced: (a) where the disposal took place before the commencement of the rebate year—by an amount equal to so much of that value of export sales as is attributable to that business or those rights (including any amount that is, under the preceding provisions of this section, to be deemed to be added to that value of export sales by reason of a previous acquisition by that person of that business or of those rights); or (b) where the disposal took place during the rebate year—by an amount that bears to the amount first‑mentioned in the last preceding paragraph the same proportion as the number of days from the date of disposal to the end of the rebate year bears to the number of days in the whole of the rebate year. (4) In this section: (a) a reference to the value of export sales of a person shall be read as a reference to the value of export sales of that person apart from any reduction under section sixteen Q of this Act; and (b) a reference to a business shall be read as including a reference to a part of a business.