Corporation Tax Act 2009 section 153

Reserves of marketing authorities etc.

Section 153(5) defines what counts as an "approved scheme or arrangement" in relation to reserves held by marketing authorities and certain other statutory bodies, specifically covering schemes connected with the National Assembly for Wales.

• An "approved scheme or arrangement" includes a scheme or arrangement approved by the National Assembly for Wales before 26 May 2007.
• It also includes a scheme or arrangement made with the National Assembly for Wales before the same date.
• This definition is relevant to how reserves of marketing authorities and similar statutory bodies are treated for corporation tax purposes.
• The cut-off date of 26 May 2007 means only schemes approved or agreed before that date qualify under this provision.