(1) For the purposes of this Part, an accounting period of a controlled foreign company shall begin -
(a) where the company was not a controlled foreign company immediately prior to a date on which it became a controlled foreign company, on that date, and
(b) where the company continues to be a controlled foreign company, immediately after the end of the previous accounting period,
and references in this subsection and subsection (2) to an accounting period are references to such a period as determined by virtue of the application, by subsection (3), of certain provisions of section 27 for the purposes of this section.
(2) An accounting period of a controlled foreign company shall end -
(a) when the company ceases to be a controlled foreign company in accordance with this Chapter,
(b) when the company becomes or ceases to be resident in a territory, or
(c) when the company ceases to have any sources of income.
(3) Without prejudice to subsections (1) and (2) of this section, subsection
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